Union Mutual Fund is a SEBI-registered Asset Management Company (AMC), incorporated in Dec 2009 and commences operation in March 2011. The AMC is sponsored by one of India’s leading public sector banks named Union Bank of India and a Japanese financial giant called Daiichi Life Group, Inc.
Back in 2009, the fund house was originally launched as Union KBC Mutual Fund, a joint venture between Union Bank of India and Belgium's KBC Asset Management NV. In 2016, Union Bank acquired KBC’s 49% stake, briefly making it a wholly-owned subsidiary. Later in 2017, Dai-ichi Life Holdings became a part of the AMC after acquiring a 39.62% stake. Currently, the fund house is led by Chief Executive Officer (CEO) Rajkamal Tiwari and Chief Investment Officer (CIO) Harshad Patwardhan.
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