Fundalysisby DARKHORSESTOCKS

Scheme

Union Innovation Opportunities Fund

Holds 54 companies worth ₹1,309 Cr in Aug 2026.

  • Fund house

    UnionThe fund house that runs this scheme.

  • AUM

    ₹1,307 CrUnion Innovation Opportunities Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 2.8% on Aug 2026, ₹1,344 Cr.

  • Largest holding

    One 97 Communications LimitedOne 97 Communications Limited is 5.2% of this scheme's NAV.

  • Fund manager

    Sanjay BembalkarRuns its co-manager part since 6 Sept 2023, as the fund house dates it. With Gaurav Chopra (co-manager).

Overview(6 Oct 2026)

Fund managers2

  1. Sanjay BembalkarCo-manager · Sept 2023 · 18y · CA CFA B.Com
  2. Gaurav ChopraCo-manager · Nov 2024 · 11y · CA B.Com
  1. Hardick BoraSept 2023 – Nov 2024

Key facts

Benchmark
Nifty 500 Index (TRI) Nifty Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to Nifty 500 Index or particularly in the ability of the Nifty 500 Index, to track general stock market performance in India.
Risk
Very High Risk Note: The product labelling assigned during the New Fund Offer is based on internal assessment of the Scheme Characteristics or model portfolio and the same may vary post NFO when actual investments are made.
Expense
Regular 2.35% · Direct 0.99%
Exit load
1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units.
Started
6 Sept 2023
Minimum
₹1,000

Source.Its Scheme Summary Document as of 6 Oct 2026 at AMFI.

What changed(73 changes)

Oct 2026

1 change
  1. Expense ratio
    5 OctRegular 2.37% → 2.35%Direct 1.01% → 0.99%

Sept 2026

4 changes

Aug 2026

4 changes
  1. Category
    31 AugSectoral/ Thematic → Equity Scheme – Thematic Fund

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Sept 2023 – now)

  1. Sanjay Bembalkar
  2. Gaurav Chopra
  3. Hardick Bora
MainCoSlice202420252026
Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs(Aug 2024 – Oct 2026)

Every change to the expense ratio, newest first.
70 changesRegularDirectΔ pt
5 Oct 20262.35%0.99%0.02
28 Sept 20262.37%1.01%0.01
20 Sept 20262.36%1.00%0.99
15 Sept 20262.37%0.01%0.97
6 Sept 20262.32%0.98%0.01
23 Aug 20262.34%0.99%0
12 Aug 20262.35%0.99%0.01
9 Aug 20262.35%1.00%0.01
26 Jul 20262.36%1.01%0
6 Jul 20262.35%1.01%0.05
18 Jun 20262.31%0.96%0.13
14 Jun 20262.18%0.83%0.58
8 Jun 20262.77%1.41%1.25
1 Jun 20262.00%2.66%1.83
28 May 20262.18%0.83%0.03
24 May 20262.14%0.80%0.51
18 May 20262.66%1.31%0.43
11 May 20262.22%0.88%0.63
5 May 20262.86%1.51%0.71
28 Apr 20262.14%0.80%0
26 Apr 20262.15%0.80%0.08
22 Apr 20262.22%0.88%0.03
16 Apr 20262.25%0.91%0.80
9 Apr 20263.06%1.71%0.87
7 Apr 20262.18%0.84%0.03
24 Mar 20262.24%0.87%0.01
16 Mar 20262.23%0.86%0.01
4 Mar 20262.22%0.85%0.02
3 Feb 20262.20%0.83%0.01
22 Jan 20262.21%0.84%0.01
13 Jan 20262.20%0.83%0.01
8 Jan 20262.19%0.82%0.01
4 Jan 20262.18%0.81%0.08
7 Dec 20252.16%0.73%0.01
31 Oct 20252.15%0.72%0.06
29 Oct 20252.14%0.66%0.01
23 Sept 20252.15%0.67%0.01
5 Sept 20252.16%0.68%0.02
19 Aug 20252.18%0.70%0.01
1 Jul 20252.19%0.71%0.01
6 Jun 20252.20%0.72%0.01
26 May 20252.21%0.73%0.01
20 May 20252.22%0.74%0.01
25 Apr 20252.23%0.75%0.02
21 Apr 20252.25%0.77%0.01
16 Apr 20252.26%0.78%0
11 Apr 20252.28%0.78%0.04
7 Apr 20252.26%0.74%0.01
2 Apr 20252.25%0.73%0.03
1 Apr 20252.28%0.76%0.10
24 Feb 20252.31%0.86%0.01
19 Feb 20252.30%0.85%0.01
14 Feb 20252.29%0.84%0.03
3 Feb 20252.26%0.81%0.04
29 Jan 20252.30%0.85%0.02
24 Jan 20252.28%0.83%0.01
23 Jan 20252.29%0.84%0.03
16 Jan 20252.26%0.81%0.01
13 Jan 20252.25%0.80%0.04
11 Dec 20242.21%0.76%0.01
6 Dec 20242.22%0.77%0.01
28 Nov 20242.23%0.78%0.02
18 Nov 20242.25%0.80%0.01
7 Nov 20242.24%0.79%0.09
5 Nov 20242.23%0.70%0.01
22 Oct 20242.24%0.71%0.01
23 Sept 20242.23%0.70%0.01
16 Sept 20242.24%0.71%0.01
23 Aug 20242.25%0.72%0.04
22 Aug 20242.26%0.68%–
Direct plan, 5 Oct 2026
0.99%
Regular plan 2.35% · Exit load 1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units.
Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk(6 Oct 2026)

Objective

The Investment Objective of the Scheme is to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies. However, there is no assurance that the Investment Objective of the Scheme will be achieved.

Risk, type and benchmark

At launch
Very High
Type
An open-ended equity scheme investing in innovation theme
Benchmark
Nifty 500 Index (TRI) Nifty Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to Nifty 500 Index or particularly in the ability of the Nifty 500 Index, to track general stock market performance in India.

Asset allocation it may hold% of NAV

  1. Equity & Equity related instruments including Instruments of Innovative entity(ies)
    Allowed80–100%
  2. Equity and Equity Related Instruments of other than above entity(ies)
    Allowed0–20%
  3. Money Market Instruments, Other Liquid Instruments and other assets as permitted by SEBI
    Allowed0–20%Holds2.6%
  4. Units issued by InvITs
    Allowed0–10%Holds0.0%

Holds in Aug 2026.97.4% equity · 2.6% debt and cash

How to invest(6 Oct 2026)

Buying

To start
₹1,000, then in multiples of ₹1
To add
₹1,000, then in multiples of ₹1
Most
No Limit
Systematic
SIP - Daily, Weekly, Fortnightly and Monthly, SWP - Daily/ Monthly/ Quarterly/ Half Yearly and Yearly, STP - Daily, Weekly, Fortnightly, Monthly, Quarterly and Half Yearly
Dates
SIP - Daily (only business days) for Daily frequency, any date of the month for weekly, fortnightly and monthly frequency, STP - Daily (only business days) for Daily frequency, Monday to Friday for weekly frequency, Every Alternate Wednesday for fortnightly frequency and Any date of the month for monthly, quarterly and half yearly frequency, SWP - Daily (Only Business days) for Daily Frequency and any date of the month for monthly, quarterly, half yearly and yearly frequency
Minimum
SIP - Rs. 100 for daily SIP, Rs. 500 for weekly SIP, Rs. 500 for fortnightly SIP, Rs. 500 for monthly SIP, SWP - Rs. 500 for all frequencies, STP - Rs. 100 for all frequencies, then sIP - Rs. 1 thereof for all frequencies, STP - Rs. 1 thereof for all frequencies, SWP - Rs. 1 thereof for all frequencies.
Instalments
SIP - 6 instalments for all frequencies, STP - 6 instalments for all frequencies, SWP - 6 instalments for all frequencies
Most
SIP - Not applicable, STP - Not applicable, SWP - Not applicable

Selling and switching

To redeem
₹1,000 or Units Equivalent to Rs. 1,000 or the balance in the account of the unitholder, whichever is lower units
Switch minimum
₹1,000 or Switch in : Units equivalent to Rs. 1000 Switch out: Units Equivalent to Rs. 1,000 or the balance in the account of the unitholder, whichever is lower units
Switch multiples
Switch in: in multiples of Re. 1 Switch out: in multiples of Re. 1 or Switch in: Units equivalent to Re. 1 Switch out: Units equivalent to Re. 1 units

Scheme details(6 Oct 2026)

What it is

Category
Equity Scheme – Thematic Fund
Offer
16 Aug 2023 to 30 Aug 2023
Started
6 Sept 2023
Reopened
13 Sept 2023
Plans
Direct Plan - Growth Option · Direct Plan - Reinvestment of Income Distribution cum Capital Withdrawal (IDCW) Option · Direct Plan - Payout of Income Distribution cum Capital Withdrawal Option · Direct Plan - Transfer of Income Distribution cum Capital Withdrawal Option · Regular Plan - Growth Option · Regular Plan - Reinvestment of Income Distribution cum Capital Withdrawal Option · Regular Plan - Payout of Income Distribution cum Capital Withdrawal Option · Regular Plan - Transfer of Income Distribution cum Capital Withdrawal Option
Face value
₹10
Listed
The Scheme being an open ended Scheme it is not proposed to be listed on any stock exchange. However, the Trustee reserves the right to list the units of the Scheme on any stock exchange(s) at its sole discretion at a later date.

How it is run

Swing pricing
No
Side-pocketing
Enabled but no segregated portfolio created
Custodian
SBI-SG Global Securities Services Private Limited
Auditor
M/s S.R Batliboi & Co. LLP
Registrar
Computer Age Management Services Limited (CAMS)
SEBI code
UNIN/O/E/THE/23/02/0023