INSUBCONTINENT EXCLUSIVE:
Investors could skip the new fund offer (NFO) of Union Focused Equity Fund.
This is the third NFO in the focused fund category after Mirae
and Kotak launched focused funds earlier in May and June.
Focused funds typically have concentrated portfolios of 25-30 stocks
The category has done well over the last one year as the market rally was primarily driven by a handful of stocks
The NFO is currently open and will close on July 29
The fund will be managed by chief investment officer Vinay Paharia
The minimum investment amount is Rs 5,000.
Financial planners point out that existing funds from the asset manager namely its large-cap
fund, multi cap fund, small-cap fund and tax saver fund have failed to beat their benchmark indices over the last one-year and three-year
offers coming in after the Sebi rules on categorisation came into effect, financial planners believe investors should be careful while
volatile and hence they are meant for savvy investors who understand how equity behaves as an asset class