Union Mutual Fund: AUM, Schemes, History & Top Funds
Union Mutual Fund, backed by Union Bank of India and Dai-ichi Life, manages ₹28,967.20 crore across 32 schemes. See its history and top funds.
Union Mutual Fund is the investment wing of Union Bank of India, jointly sponsored with Dai-ichi Life. It manages ₹28,967.20 crore across 32 schemes and was set up on 30 December 2009. This guide covers its history, sponsors and its top 10 funds with returns and risk data.
Key takeaways
- Union Mutual Fund manages ₹28,967.20 crore across 32 schemes and is 16 years old.
- It is jointly sponsored by Union Bank of India and Dai-ichi Life.
- It was initially known as Union KBC Mutual Fund; KBC pulled out in 2016, and Union Bank bought its shares.
- Rajkamal Tiwari is CEO, G. Pradeepkumar is MD, and Harshad Patwardhan is Chief Investment Officer.
- Its top 10 funds span liquid, retirement, gold, equity and money market categories.
What is Union Mutual Fund?
Union Mutual Fund, the investment wing of Union Bank of India, was set up on 30 December 2009 with the aim of building a robust asset management portfolio in India, using the bank's extensive client base. Its vision is to give investors opportunities to achieve sustainable prosperity by investing responsibly in the capital markets.
How has Union Mutual Fund's ownership evolved?
The AMC was set up with KBC Asset Management NV, a Belgium-based AMC, and was initially known as Union KBC Mutual Fund. Union Bank always held the majority stake, while KBC held 49%. The partnership ended in 2016 when KBC pulled out and Union Bank of India bought its shares, making Union Mutual Fund a wholly owned subsidiary.
In 2017, Dai-ichi Life, a major Japanese financial services company, acquired a 39.62% stake. No changes were made to the existing structure, though Dai-ichi would appoint one nominee to the Board of Directors.
Who are Union Mutual Fund's sponsors?
Union Bank of India is a government-owned bank, inaugurated by Mahatma Gandhi on 11 November 1919 and nationalised in 1969, when it had 240 branches. It opened its first international branch in Abu Dhabi in 2007. Dai-ichi Life, founded in 1902, is described as one of the top three insurance companies in Japan.
Union Mutual Fund: key information
| Field | Detail |
|---|---|
| Total AUM | ₹28,967.20 crore |
| Number of schemes | 32 |
| AMC age | 16 years |
| Incorporation date | 30 December 2009 |
| Sponsors | Union Bank of India & Dai-ichi Life Holdings, Inc. |
| Trustee organisation | Union Trustee Company Pvt.Ltd. |
| CIO | Harshad Patwardhan(Chief Investment Officer) |
| MD | G. Pradeepkumar |
| CEO | Rajkamal Tiwari(Chief Executive Officer) |
| Compliance officer | Padmaja Shirke |
| Address | Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East) Mumbai 400059 |
Top 10 Union Mutual Funds ranked by an internal score
These are the fund house's top 10 funds, ranked by Invo Wealth's internal fund-quality score. The score itself is not shown, only the return and risk numbers behind it. A "--" means the fund has not completed that period or the data is unavailable.
Returns across 6 months to 5 years
Performance data as of 5 September 2026.
| Fund | Sub-category | 6M CAGR | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Union Liquid Fund | Liquid Fund | 6.93% | 6.44% | 6.89% | 6.26% |
| Union Retirement Fund | Retirement Fund | 10.66% | 6.89% | 12.36% | -- |
| Union Gold ETF Fund of Fund | Fund of Funds (FoF) | -7.87% | 41.05% | -- | -- |
| Union Multicap Fund | Multi Cap Fund | 25.67% | 12.18% | 14.10% | -- |
| Union Multi Asset Allocation Fund | Multi Asset Allocation Fund | 1.15% | 13.49% | -- | -- |
| Union Small Cap Fund | Small Cap Fund | 55.86% | 23.52% | 16.18% | 16.87% |
| Union Flexi Cap Fund | Flexi Cap Fund | 12.39% | 4.15% | 10.66% | 9.54% |
| Union Value Fund | Value Fund | 4.23% | 3.27% | 11.55% | 11.98% |
| Union Money Market Fund | Money Market Fund | 7.07% | 6.17% | 6.51% | 5.74% |
| Union Midcap Fund | Mid Cap Fund | 24.36% | 11.12% | 15.72% | 14.46% |
All funds listed are Regular Plan - Growth option. CAGR = compound annual growth rate.
Risk and consistency metrics
| Fund | ISIN | Mean 1Y rolling return | Volatility | Max drawdown (3Y) | Sortino ratio |
|---|---|---|---|---|---|
| Union Liquid Fund | INF582M01013 | 5.94% | 0.28% | -0.01% | -1.60 |
| Union Retirement Fund | INF582M01IM1 | 16.93% | 17.14% | -18.19% | 0.42 |
| Union Gold ETF Fund of Fund | INF582M01KT2 | 53.05% | 37.17% | -24.61% | 1.32 |
| Union Multicap Fund | INF582M01IS8 | 17.72% | 18.16% | -20.27% | 0.52 |
| Union Multi Asset Allocation Fund | INF582M01JU2 | 16.95% | 13.55% | -12.55% | 0.67 |
| Union Small Cap Fund | INF582M01BY1 | 21.83% | 22.58% | -26.43% | 0.54 |
| Union Flexi Cap Fund | INF582M01104 | 15.30% | 16.85% | -17.69% | 0.29 |
| Union Value Fund | INF582M01EO6 | 17.66% | 17.72% | -18.31% | 0.35 |
| Union Money Market Fund | INF582M01HO9 | 5.98% | 0.43% | -0.13% | -2.69 |
| Union Midcap Fund | INF582M01GM5 | 20.81% | 20.34% | -21.72% | 0.58 |
The Union Liquid Fund shows volatility of 0.28%, while the Union Small Cap Fund shows 22.58% with a 5-year CAGR of 16.87%. Sortino ratio measures return relative to downside risk, so compare it within a category rather than across debt and equity funds.
How to invest in Union Mutual Fund
You can invest online through the fund house's website or a platform of your choice. Sign up on Invo Wealth, get complete portfolio insights and start investing in mutual funds that actually suit you.
Conclusion
Union Mutual Fund combines the reach of Union Bank of India with Dai-ichi Life's backing, across 32 schemes. Compare each fund's returns, volatility and drawdown against your goals before investing.
Frequently asked questions
How do I start an SIP in Union Mutual Fund online?
You can start an SIP online through Invo Wealth, or through the fund house's website or any other online platform or mobile app. Choose a scheme, set the amount and begin.
How do I calculate a Union Mutual Fund SIP?
An SIP calculation takes into account your investment amount, the SIP tenure, the number of instalments already paid and the expected interest rate.
How do I redeem a Union Mutual Fund investment?
Offline, visit the nearest fund house office and submit a form. Online, sign in with your folio number on the official website, or redeem through any online portal where you invested.
Can I increase my Union Mutual Fund SIP amount?
Yes, through a step-up or top-up SIP, which most fund houses now offer. Check with the fund house first and use a step-up calculator to decide the new amount.
How do I stop a Union Mutual Fund SIP online?
Place a Cancel SIP request at any time. Log in to the fund house's website with your folio number, contact your agent, or use the platform where you invested.
Mutual fund investments are subject to market risks; read all scheme-related documents carefully. This article is for education only and is not investment advice. Past performance does not guarantee future returns. Invo Wealth is an AMFI-registered mutual fund distributor (ARN-368528).