April 28, 2026
RA Jainee
Union Innovation & Opportunities Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 14.24 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 14.24 |
| Min. Investment (Rs.) | 1,000 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 6 |
| Benchmark | NIFTY 500 TRI |
| AUM Rs. | 972 Cr |
| (As on 31-Mar-2026) | |
| Expense | 0.87% |
| 1 Year Return (%) | 7.63 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 14.37% |
⚖️ Sahifund Review – Union Innovation & Opportunities Fund ✔
PLUS:
• Strong early performance with ~7.6% 1-year return, outperforming benchmark and category
• Since-launch return (~14%+) indicates effective stock selection in initial phase
• Diversified portfolio (~50 stocks) reduces single-stock risk
• High exposure to mid & small caps offers alpha potential in emerging sectors
• Reasonable expense ratio (~0.87%) compared to thematic peers
• Suitable for SIP investors looking to capture innovation-led growth themes
• Backed by experienced management team at Union Mutual Fund
• Category relevance strong in evolving sectors like tech, new-age businesses
MINUS:
• Short track record (~2.5 years) limits long-term reliability
• High portfolio valuation (P/E ~49) increases downside risk
• Elevated turnover (~53%) may impact consistency
• Heavy small-cap exposure (~53%) adds volatility
• Theme-based strategy may underperform in non-growth cycles
• No long-term performance data vs established peers
• Ranking still mid-tier within category despite decent returns
• Sensitive to market sentiment shifts in high-growth sectors
Sahifund View (Decisive Line):
A high-growth thematic fund with promising start, but suitable only for aggressive investors willing to handle volatility and wait for long-term track record to build.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Innovation funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks with a focus on innovation theme for high returns
2. Aiming for long term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups and downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The Scheme seeks to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies.
Fund Manager:
1) Gaurav Chopra
Education: Mr. Chopra has done B.Com, Chartered Accountant and CFA (Level III cleared)
Experience: Prior to joining Union Mutual Fund, he was associated with Centrum Portfolio Management Services- Centrum Broking Ltd., Barclays Wealth Trustees (India) Pvt. Ltd. and Sharp & Tanan Associates
2) Sanjay Bembalkar
Education: Mr. Bembalkar has done B.Com, M.Sc. (Accounting and Finance), ACA, CFA Charterholder.
Experience: Prior to joining Union Mutual Fund, he has worked with Canara Robeco Asset Management Company Ltd, LIC Mutual Fund, Quantum Advisors Pvt. Ltd and Autonomous Research LLP
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 365 days |
Basic Details of Union Innovation & Opportunities Fund
| Fund House | Union Mutual Fund |
| Launch Date | 06-Sep-23 |
| Return Since Launch | 14.37% |
| Benchmark | NIFTY 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 972 Cr |
| (As on 31-Mar-2026) | |
| Expense | 0.87% |
| (As on 31-Mar-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 53.00% |
Union Innovation & Opportunities Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Union Innovation & Opportunities Dir | -3.13 | -0.97 | 10.22 | 5.64 | -6.07 | 7.63 | — | — | — | — |
| BSE 500 TRI | -4.45 | -0.78 | 10.37 | 0.45 | -3.90 | 3.30 | — | — | — | — |
| Equity: Thematic-Innovation | -3.72 | -1.07 | 9.28 | 3.34 | -5.13 | 6.45 | — | — | — | — |
| Rank within category | 6 | 3 | 6 | 5 | 8 | 5 | — | — | — | — |
| Number of funds in category | 11 | 12 | 12 | 11 | 11 | 10 | 1 | 1 | 0 | 0 |
Peer Comparison of Union Innovation & Opportunities Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Union Innovation & Opportunities Dir | Unrated | 7.63 | — | — | 0.87 | 972 | 14.37 | 1.00 (365) | 2Y 7M | 53.00 |
| ICICI Pru Innovation Dir | Unrated | 4.89 | — | — | 0.76 | 6,799 | 23.16 | 1.00 (30) | 2Y 11M | 127.00 |
| SBI Innovative Opportunities Dir | Unrated | 1.92 | — | — | 0.96 | 4,504 | -4.96 | 1.00 (30) | 1Y 8M | 37.00 |
| Kotak Pioneer Dir | Unrated | 13.81 | 23.64 | 17.74 | 0.54 | 3,083 | 21.52 | 0.50 (90) | 6Y 5M | 13.12 |
| Nippon India Innovation Dir | Unrated | 4.99 | — | — | 0.69 | 2,446 | 14.33 | 1.00 (365) | 2Y 7M | 47.00 |
Union Innovation & Opportunities Fund Portfolio
| No. of Stocks | 50 |
| Top 10 Stocks | 35.33% |
| Top 5 Stocks | 20.43% |
| Top 3 Sectors | 61.71% |
| Portfolio P/B Ratio | 4.80 |
| Portfolio P/E Ratio | 49.09 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 37,256 | 69,475 |
| Giant (%) | — | — |
| Large (%) | 15.63 | 34.62 |
| Mid (%) | 31.12 | 28.53 |
| Small (%) | 53.25 | 36.85 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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