Union Innovation & Opportunities Fund - Direct Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Portfolio Turnover Ratio : 51.00%. Category average turnover ratio is 96.83%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 97.45% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 97.45%

No of Stocks : 50 (Category Avg - 44.17) | Large Cap Investments : 0%| Mid Cap Investments : 15.26% | Small Cap Investments : 17.09% | Other : 65.1%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	50	43.41
Top 5 Stock Weight	19.54%	32.46%
Top 10 Stock Weight	34.56%	49.59%
Top 3 Sector Weight	29.65%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	3561.86	72450.77
Holdings in large cap stocks	0%	37.14%
Holdings in mid cap stocks	15.26%	14.47%
Holdings in small cap stocks	17.09%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Eternal Ltd.	E-retail/ e-commerce	604.8	5.35%	-0.45%	5.8% (Sep 2025)	3.1% (May 2025)	19.04 L	0.00
GE T&D India Ltd.	Heavy electrical equipment	448.7	3.97%	-0.77%	4.74% (Sep 2025)	1.65% (Nov 2024)	1.48 L	-0.23 L
Info Edge (India) Ltd.	Internet & catalogue retail	406.6	3.60%	-0.02%	5.44% (Nov 2024)	3.6% (Oct 2025)	2.95 L	0.00
TVS Motor Company Ltd.	2/3 wheelers	388.8	3.44%	-0.13%	3.57% (Sep 2025)	1.58% (Dec 2024)	1.11 L	0.00
Ami Organics Ltd.	Pharmaceuticals	360	3.18%	0.18%	3.49% (Feb 2025)	2.78% (Jun 2025)	2.08 L	-0.35 L
Affle India Ltd.	It enabled services	358.2	3.17%	-0.21%	3.71% (Jun 2025)	2.51% (Nov 2024)	1.86 L	0.00
One 97 Communications Ltd.	Financial technology (fintech)	342.5	3.03%	0.57%	3.03% (Oct 2025)	0% (Nov 2024)	2.63 L	29.17 k
Federal Bank Ltd.	Private sector bank	342.2	3.03%	0.42%	3.26% (Mar 2025)	0% (Nov 2024)	14.46 L	0.00
PB Fintech Ltd.	Financial technology (fintech)	329.5	2.91%	-0.03%	3.65% (Aug 2025)	2.86% (Feb 2025)	1.85 L	0.00
FSN E-Commerce Ventures Ltd.	E-retail/ e-commerce	325.7	2.88%	0.02%	2.93% (Aug 2025)	1.52% (Dec 2024)	13.13 L	0.00

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

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Sector
M-Cap

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Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
Eternal Ltd.	E-retail/ e-commerce	13.53	604.8	5.35%	-0.45%	5.8% (Sep 2025)	3.1% (May 2025)	19.04 L	0.00	Other	65.1
GE T&D India Ltd.	Heavy electrical equipment	8.05	448.7	3.97%	-0.77%	4.74% (Sep 2025)	1.65% (Nov 2024)	1.48 L	-0.23 L	Small Cap	17.09
Info Edge (India) Ltd.	Internet & catalogue retail	3.6	406.6	3.60%	-0.02%	5.44% (Nov 2024)	3.6% (Oct 2025)	2.95 L	0.00	Other	65.1
TVS Motor Company Ltd.	2/3 wheelers	5.49	388.8	3.44%	-0.13%	3.57% (Sep 2025)	1.58% (Dec 2024)	1.11 L	0.00	Mid Cap	15.26
Ami Organics Ltd.	Pharmaceuticals	4.33	360	3.18%	0.18%	3.49% (Feb 2025)	2.78% (Jun 2025)	2.08 L	-0.35 L	Other	65.1
Affle India Ltd.	It enabled services	4.18	358.2	3.17%	-0.21%	3.71% (Jun 2025)	2.51% (Nov 2024)	1.86 L	0.00	Other	65.1
One 97 Communications Ltd.	Financial technology (fintech)	7.89	342.5	3.03%	0.57%	3.03% (Oct 2025)	0% (Nov 2024)	2.63 L	29.17 k	Other	65.1
Federal Bank Ltd.	Private sector bank	3.03	342.2	3.03%	0.42%	3.26% (Mar 2025)	0% (Nov 2024)	14.46 L	0.00	Mid Cap	15.26
PB Fintech Ltd.	Financial technology (fintech)	7.89	329.5	2.91%	-0.03%	3.65% (Aug 2025)	2.86% (Feb 2025)	1.85 L	0.00	Other	65.1
FSN E-Commerce Ventures Ltd.	E-retail/ e-commerce	13.53	325.7	2.88%	0.02%	2.93% (Aug 2025)	1.52% (Dec 2024)	13.13 L	0.00	Other	65.1
Jio Financial Services Ltd.	Non banking financial company (nbfc)	2.61	294.6	2.61%	0.44%	2.61% (Oct 2025)	0.63% (Feb 2025)	9.60 L	1.70 L	Other	65.1
CG Power and Industrial Solutions Ltd.	Heavy electrical equipment	8.05	292.9	2.59%	-0.17%	2.76% (Sep 2025)	2.19% (Dec 2024)	3.98 L	0.00	Small Cap	17.09
Phoenix Mills Ltd.	Residential, commercial projects	2.47	279.3	2.47%	0.26%	2.78% (Feb 2025)	2.07% (Aug 2025)	1.66 L	14.00 k	Small Cap	17.09
Swiggy Ltd.	E-retail/ e-commerce	13.53	273.5	2.42%	0.50%	2.42% (Oct 2025)	0% (Nov 2024)	6.67 L	1.83 L	Other	65.1
UNO Minda Ltd.	Auto components & equipments	8.07	273.3	2.42%	-0.27%	2.74% (Aug 2025)	1.43% (Jan 2025)	2.21 L	0.00	Small Cap	17.09
Krishna Institute of Medical Sciences Ltd.	Hospital	3.27	257.4	2.28%	-0.06%	2.87% (Mar 2025)	1.98% (Nov 2024)	3.57 L	0.00	Other	65.1
Inventurus Knowledge Solutions Ltd.	It enabled services – software	2.27	256.9	2.27%	0.56%	2.27% (Oct 2025)	0% (Nov 2024)	1.56 L	30.62 k	Other	65.1
Awfis Space Solutions Ltd.	Diversified commercial services	2.27	256.8	2.27%	-0.01%	3.32% (Mar 2025)	1.92% (Nov 2024)	4.28 L	0.00	Other	65.1
Dixon Technologies (India) Ltd.	Consumer electronics	2.25	254.1	2.25%	-0.26%	3.36% (Nov 2024)	2.1% (Jan 2025)	16.40 k	0.00	Other	65.1
Kaynes Technology India Private Ltd.	Industrial products	3.01	245.7	2.17%	-0.25%	2.91% (Dec 2024)	2.1% (Feb 2025)	36.64 k	0.00	Other	65.1
Home First Finance Company India Ltd.	Housing finance company	2.12	240.3	2.12%	-0.17%	2.7% (Apr 2025)	1.55% (Nov 2024)	2.01 L	0.00	Other	65.1
Delhivery Ltd.	Logistics solution provider	2.08	235.4	2.08%	0.11%	2.13% (Aug 2025)	0.92% (Nov 2024)	5.05 L	36.54 k	Other	65.1
S.J.S. Enterprises Ltd.	Auto components & equipments	8.07	235.1	2.08%	-0.20%	2.74% (Nov 2024)	1.77% (Apr 2025)	1.46 L	-0.22 L	Other	65.1
J S W Energy Ltd.	Power generation	2.03	229.5	2.03%	-0.03%	2.28% (Mar 2025)	1.55% (Nov 2024)	4.35 L	21.27 k	Mid Cap	15.26
Ather Energy Ltd.	2/3 wheelers	5.49	226.8	2.01%	0.36%	2.01% (Oct 2025)	0% (Nov 2024)	3.28 L	16.15 k	Other	65.1
KFIN Technologies Ltd.	Financial technology (fintech)	7.89	220.6	1.95%	-0.03%	2.71% (Jun 2025)	1.37% (Jan 2025)	2.01 L	0.00	Other	65.1
WABCO India Ltd.	Auto components & equipments	8.07	212.6	1.88%	-0.15%	2.13% (Aug 2025)	0% (Nov 2024)	17.11 k	331.00	Mid Cap	15.26
Amber Enterprises India Ltd.	Household appliances	1.85	209.2	1.85%	-0.12%	2.04% (Jul 2025)	0% (Nov 2024)	26.03 k	0.00	Small Cap	17.09
Bharat Electronics Ltd.	Aerospace & defense	2.41	193.3	1.71%	-0.01%	3.51% (Jun 2025)	1.54% (Nov 2024)	4.54 L	0.00	Mid Cap	15.26
Gabriel India Ltd.	Auto components & equipments	8.07	191.1	1.69%	0.03%	1.69% (Oct 2025)	0% (Nov 2024)	1.50 L	0.00	Small Cap	17.09
Cartrade Tech Ltd.	E-retail/ e-commerce	13.53	189.7	1.68%	0.01%	2.62% (Nov 2024)	1.67% (Sep 2025)	62.84 k	-0.10 L	Other	65.1
Ethos Ltd.	Gems, jewellery and watches	1.6	181.4	1.60%	0.12%	1.81% (Nov 2024)	1.37% (Aug 2025)	62.49 k	130.00	Other	65.1
Jubilant Foodworks Ltd.	Restaurants	1.5	170	1.50%	0.10%	1.57% (Jan 2025)	0% (Nov 2024)	2.84 L	42.63 k	Other	65.1
Suzlon Energy Ltd.	Heavy electrical equipment	8.05	168.8	1.49%	-0.81%	4.08% (May 2025)	1.49% (Oct 2025)	28.47 L	-0.16 Cr	Small Cap	17.09
C.E. Info Systems Ltd.	Software products	1.43	161.6	1.43%	0.06%	1.87% (Feb 2025)	1.37% (Sep 2025)	88.85 k	0.00	Other	65.1
Urban Company Ltd.	E-retail/ e-commerce	13.53	135.7	1.20%	-0.15%	1.35% (Sep 2025)	0% (Nov 2024)	8.60 L	0.00	Other	65.1
Abbott India Ltd.	Pharmaceuticals	4.33	130	1.15%	0.02%	1.47% (Jun 2025)	0% (Nov 2024)	4.48 k	362.00	Mid Cap	15.26
KPIT Technologies Ltd.	Computers - software & consulting	1.06	119.6	1.06%	0.01%	1.76% (Dec 2024)	0.94% (Apr 2025)	1.03 L	0.00	Other	65.1
# Tata Communications Ltd.	Telecom - cellular & fixed line services	1.01	114.6	1.01%	1.01%	1.01% (Oct 2025)	0% (Nov 2024)	61.11 k	61.11 k	Mid Cap	15.26
L&T Technology Services Ltd.	It enabled services	4.18	114	1.01%	-0.06%	2.71% (Jan 2025)	1.01% (Oct 2025)	27.68 k	0.00	Mid Cap	15.26
Max Healthcare Institute Ltd.	Hospital	3.27	112.5	0.99%	-0.03%	1.84% (Mar 2025)	0.99% (Oct 2025)	97.99 k	0.00	Other	65.1
# Sai Life Sciences Ltd.	Petrochemicals	0.97	109.6	0.97%	0.97%	0.97% (Oct 2025)	0% (Nov 2024)	1.19 L	1.19 L	Other	65.1
Netweb Technologies India Ltd.	Computers hardware & equipments	0.92	103.8	0.92%	0.24%	2.4% (Nov 2024)	0% (Nov 2024)	25.70 k	5.70 k	Other	65.1
# Jyoti CNC Automation Ltd.	Industrial products	3.01	95.1	0.84%	0.84%	0.84% (Oct 2025)	0% (Nov 2024)	1.10 L	1.10 L	Other	65.1
Neogen Chemicals Ltd.	Specialty chemicals	0.76	85.9	0.76%	0.02%	2.23% (Dec 2024)	0.72% (Aug 2025)	59.52 k	6.90 k	Other	65.1
Saregama India Ltd.	Media & entertainment	0.76	85.5	0.76%	-0.07%	0.88% (Mar 2025)	0.7% (Jul 2025)	1.88 L	0.00	Other	65.1
# Data Patterns India Ltd.	Aerospace & defense	2.41	79.1	0.70%	0.70%	0.7% (Oct 2025)	0% (Nov 2024)	28.83 k	28.83 k	Other	65.1
Gokaldas Exports Ltd.	Garments & apparels	0.61	68.5	0.61%	0.06%	0.85% (May 2025)	0% (Nov 2024)	81.75 k	0.00	Small Cap	17.09
# TVS Motor Company Ltd. - Preference Shares	2/3 wheelers	5.49	4.5	0.04%	0.00%	0% (Nov 2025)	0% (Nov 2025)	4.43 L	0.00	Other	65.1
Anthem Biosciences Ltd.	Biotechnology	0.02	2.7	0.02%	-0.01%	0.03% (Jul 2025)	0% (Nov 2024)	3.86 k	0.00	Other	65.1
Trent Limited	Speciality retail		60.9	0.00%	-0.57%	-	-	-	-	Mid Cap	15.26
Suven Pharmaceuticals Ltd.	Pharmaceuticals	4.33	86.6	0.00%	-0.81%	-	-	-	-	Other	65.1

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Sai Life Sciences Ltd.	Petrochemicals	109.6	0.97%	0.97%	0.97% (Oct 2025)	0% (Nov 2024)	1.19 L	119396
# Jyoti CNC Automation Ltd.	Industrial products	95.1	0.84%	0.84%	0.84% (Oct 2025)	0% (Nov 2024)	1.10 L	110102
# Tata Communications Ltd.	Telecom - cellular & fixed line services	114.6	1.01%	1.01%	1.01% (Oct 2025)	0% (Nov 2024)	61.11 k	61111
# Data Patterns India Ltd.	Aerospace & defense	79.1	0.70%	0.70%	0.7% (Oct 2025)	0% (Nov 2024)	28.83 k	28828

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Trent Limited	Speciality retail	60.9	0.00%	-0.57%	2.78% (Nov 2024)	0% (Nov 2024)	0.00	-13019
Suven Pharmaceuticals Ltd.	Pharmaceuticals	86.6	0.00%	-0.81%	1.27% (Apr 2025)	0% (Nov 2024)	0.00	-98494

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
Eternal Ltd.	5.35%	5.80%	5.48%	4.92%	3.27%	3.10%	4.25%	8.42%	-	-	-	-	-
Zomato Ltd.	-	-	-	-	-	-	-	-	5.01%	4.50%	5.71%	4.67%	3.69%
Info Edge (India) Ltd.	3.60%	3.62%	3.88%	3.72%	4.04%	3.90%	4.14%	4.92%	5.17%	4.84%	5.02%	5.44%	5.17%
GE T&D India Ltd.	3.97%	4.74%	4.60%	4.59%	4.04%	4.03%	3.17%	3.05%	2.53%	3.07%	2.64%	1.65%	-
UNO Minda Ltd.	2.42%	2.69%	2.74%	2.27%	2.45%	4.70%	4.48%	4.50%	4.58%	2.86%	2.94%	3.10%	3.06%
Ami Organics Ltd.	3.18%	3.00%	3.31%	3.18%	2.78%	3.01%	3.11%	3.47%	3.49%	3.48%	2.90%	3.05%	2.97%
Affle India Ltd.	3.17%	3.38%	3.43%	3.58%	3.71%	3.39%	3.32%	3.49%	3.09%	2.75%	3.01%	2.51%	1.99%
PB Fintech Ltd.	2.91%	2.94%	3.65%	2.92%	2.98%	3.03%	3.00%	3.04%	2.86%	3.06%	2.97%	3.28%	2.48%
Federal Bank Ltd.	3.03%	2.61%	2.69%	2.88%	3.09%	3.08%	3.22%	3.26%	2.57%	-	-	-	-
Suzlon Energy Ltd.	1.49%	2.30%	2.44%	3.29%	3.67%	4.08%	3.64%	3.54%	3.01%	3.20%	2.30%	1.86%	-
TVS Motor Company Ltd.	3.44%	3.57%	3.52%	3.06%	3.24%	2.98%	3.07%	2.86%	2.35%	2.35%	1.58%	1.72%	1.85%
One 97 Communications Ltd.	3.03%	2.46%	2.52%	-	-	-	-	-	-	-	-	-	-
Dixon Technologies (India) Ltd.	2.25%	2.51%	2.65%	2.72%	2.46%	2.54%	3.05%	2.53%	2.15%	2.10%	2.60%	3.36%	3.16%
Awfis Space Solutions Ltd.	2.27%	2.28%	2.35%	2.51%	2.75%	2.90%	3.10%	3.32%	3.14%	2.53%	2.25%	1.92%	1.73%
Kaynes Technology India Private Ltd.	2.17%	2.42%	2.17%	2.23%	2.45%	2.52%	2.60%	2.22%	2.10%	2.20%	2.91%	2.83%	2.71%