| Subscribe To Our Free Newsletter |
Union MF expects 50% growth in AUM, to reach Rs 15,000 cr mark by March
Union Mutual Fund, which has been an also-ran since its launch in 2012, is on a growth path now and is looking at adding at least 50 per cent more to the AUM this fiscal, sniffing at Rs 15,000 crore by March.
Despite having 22 funds (21 open-ended and one close-ended funds), the fund house sponsored by Union Bank of India and Japanese major Daiichi Life could not reach anywhere in the pecking order in the 43-player scattered industry that controls more than Rs 43 lakh crore of public money in its over 11 years of operations..
In the year to March 2023, it had an AUM of just Rs 9,853 crore across 4.96 lakh live folios from 21 cities. Daiichi picked a 39.64 per cent stake in the MF in May 2018.
But in terms of its presence in small towns, Union MF does reasonably well with 32 per cent of the AUM coming in from the B30 (beyond top 30) cities and the rest from the T30 (top 30) cities.
"As of June our AUM stood at Rs 10,700 crore, up from Rs 9,853 crore in March 2023. We hope to take th
