Union Mutual Fund

Union Mutual Fund Details

Union Mutual Fund, the investment wing of Union Bank of India, is one of the key drivers of the asset management sector in India for over a decade. The vision of the company is to provide opportunities to investors so that they can achieve sustainable prosperity by investing responsibly in the capital markets. The AMC was set up on December 30, 2009, with the aim to formulate a robust asset management portfolio in India. They already had access to the extensive client base of Union Bank of India, which they capitalised on extensively. In the year 2017, Dai-ichi Life, a major financial services company from Japan, acquired 39.62% stake at the AMC. Although no changes have been made to the existing structure of the AMC, Dai-ichi would appoint one nominee to its Board of Directors. Union Bank of India is one of the leading public sector banks in India and is headquartered in Mumbai. As on March 31, 2024, the Bank had a network of about 8466 branches including overseas branches in Dubai & Sydney, Banking Subsidiary in UK, London, JV in India International Bank (Malaysia), 4 Domestic Subsidiaries, 2 Joint Ventures, 1 Associate Company. Union Bank of India is one of the first large public sector banks in the country to have implemented 100% networking of branches through core banking solutions. The bank ranks 5th amongst PSB’s in business mix with digitally superior mix of customer friendly products. Dai-ichi Life is one of the top three insurance companies in Japan, with interests in several other financial services. The company was founded in 1902 and has emerged as one of the largest companies in Japan, with estimated total assets of over $347 billion.