Union MF seeks SEBI nod for open-ended balanced scheme

Union Mutual Fund has sought the Securities and Exchange Board of India's approval to launch Union Balanced Advantage Fund, according to information on the regulator's website.

Other Features

Plans: Direct and regular;

Options: Growth and dividend;

Entry Load: Nil;

Exit Load: 2 percent if redeemed before 18 months from the date of allotment;

1 percent if redeemed or switched out on or before completion of 18 months from the date of allotment of units

Nil, if redeemed or switched out after completion of 18 months from the date of allotment of units;

Minimum application amount: Rs 5,000 and in multiples of one rupee thereafter;

Benchmark Index: Crisil Balanced Fund–Aggressive Index

Fund Manager: Ashish Ranawade, Chief Investment Officer.