Union AMC has announced the launch of Union Retirement Fund, which is is an open-ended retirement solution-oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier).
The New Fund Offer (NFO) of Union Retirement Fund will open on 1st September 2022 and close on 15th September 2022. The minimum investment required is Rs 1,000 and in multiples of Rs 1 thereafter.
Union Retirement Fund comes at a time when companies across industries are being challenged by record attrition. Employees are opting for a change in industries and some are even dropping out completely in favour of temporary jobs in search of fulfillment, meaning and purpose. Juxtapose this trend with a rise in life expectancy (life expectancy in India in its 75 years of independence has moved from ~30 years to nearly 70 years) and one needs serious planning and discipline to truly capitalize on the freedom of the post-retirement years.
The structure of the scheme has also been designed to help customers in achieving the required discipline. The scheme comes with a compulsory lock in of 5 years or retirement age whichever is earlier.
The investment objective of the scheme is to generate long-term capital gains by investing in a mix of securities comprising of equity, equity related securities and debt instruments as per the asset allocation pattern of the scheme with a view to provide a retirement investment solution to investors.
Commenting on the same, G. Pradeepkumar, Chief Executive Officer, Union AMC, said, “Union Retirement Fund is not just an NFO. It is a bugle that calls for serious introspection amongst all stakeholders to dovetail aspiration planning with financial planning. Renewment planning is how one meticulously plans for Freedom in a disciplined manner. It goes beyond just planning for the pursuit or accumulation of wealth.”
The allotment date will be 22nd September 2022 and the scheme will re-open for ongoing sale and repurchase on the 29th September 2022. The scheme is benchmarked against S&P BSE 500 Index (TRI) and will be managed by Vinay Paharia and Sanjay Bembalkar.