Union Mutual's Momentum Fund NFO Nears Subscription Deadline

Union Mutual Funds has introduced the 'Union Active Momentum Fund,' an open-ended equity scheme focusing on stocks with momentum. The fund subscription ends on December 12, 2024, after opening on November 28, 2024. It employs a quantitative model targeting key market factors, providing a disciplined investment strategy.

Union Mutual Funds is gearing up to close subscriptions for its innovative New Fund Offer (NFO), 'Union Active Momentum Fund,' on December 12, 2024. Launched on November 28, 2024, this fund aims to capitalize on stocks demonstrating strong momentum characteristics.

The Union Active Momentum Fund operates on a proprietary quantitative model, meticulously back-tested over a span of 15 years. This model focuses on several critical market factors, including historical price performance, volatility, and liquidity, offering a rule-based strategy that eliminates emotional decision-making from investments.

According to Gaurav Chopra, Co-Fund Manager, and Sanjay Bembalkar, Head of Equity, this approach harnesses the power of momentum by investing in rising stocks and withdrawing when necessary. CEO Madhu Nair believes this strategy heralds a new era of factor-based investing in Indian markets.

(With inputs from agencies.)