Fundalysisby DARKHORSESTOCKS

Scheme

Union Multi Asset Allocation Fund

Holds 77 companies worth ₹698 Cr in Aug 2026.

  • Fund house

    UnionThe fund house that runs this scheme.

  • AUM

    ₹989 CrUnion Multi Asset Allocation Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 3.1% on Aug 2026, ₹1,020 Cr.

  • Largest holding

    ICICI BankICICI Bank is 4.6% of this scheme's NAV.

  • Fund manager

    Anindya SarkarRuns its co-manager part since 10 Sept 2024, as the fund house dates it. With Sanjay Bembalkar (co-manager), Vinod Malviya (co-manager).

Overview(6 Oct 2026)

Fund managers3

  1. Anindya SarkarCo-manager · Sept 2024 · 23y · FRM MBA B.E.
  2. Sanjay BembalkarCo-manager · Sept 2024 · 18y · CA CFA B.Com
  3. Vinod MalviyaCo-manager · Nov 2024 · 17y
  1. Hardick BoraSept 2024 – Nov 2024

Key facts

Benchmark
65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY 50 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 50 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY 50 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY 50 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.
Risk
Very High
Expense
Regular 2.41% · Direct 1.29%
Exit load
1% if units are redeemed/switched out on or before completion of 15 days from the date of allotment. Nil if redeemed or switched out after completion of 15 days from the date of allotment of units.
Started
10 Sept 2024
Minimum
₹1,000

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

What changed(85 changes)

Sept 2026

3 changes
  1. Benchmark
    15 Sept65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY 50 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 50 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY 50 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY 50 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages. → 65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY 50 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 50 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY 50 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY 50 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Aug 2026

5 changes
  1. Category
    31 AugMulti Asset Allocation → Hybrid Scheme – Multi Asset Allocation Fund

Jul 2026

4 changes
  2. Benchmark
    6 Jul65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY 50 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 50 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY 50 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY 50 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages. → 65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY 50 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 50 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY 50 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY 50 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Source.Its filings at NSE, since Sept 2024.

Fund managers over time(Sept 2024 – now)

  1. Anindya Sarkar
  2. Sanjay Bembalkar
  3. Vinod Malviya
  4. Hardick Bora
MainCoSlice20252026
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(Sept 2024 – Oct 2026)

Every change to the expense ratio, newest first.
53 changesRegularDirectΔ pt
15 Sept 20262.41%1.29%0
6 Sept 20262.38%1.29%0.01
23 Aug 20262.39%1.30%0.01
12 Aug 20262.41%1.31%0.01
9 Aug 20262.42%1.32%0.02
2 Aug 20262.42%1.34%0.02
26 Jul 20262.40%1.32%0.02
9 Jul 20262.39%1.30%0.01
6 Jul 20262.40%1.29%0.01
18 Jun 20262.38%1.28%0.21
14 Jun 20262.16%1.07%0.01
28 May 20262.15%1.06%0.04
18 May 20262.12%1.02%0.28
12 May 20262.39%1.30%0.28
11 May 20262.13%1.02%0.01
26 Apr 20262.11%1.01%0.01
22 Apr 20262.11%1.00%0.60
16 Apr 20262.70%1.60%0.59
7 Apr 20262.12%1.01%0.14
24 Mar 20262.15%1.15%0.02
19 Mar 20262.13%1.13%0.15
16 Mar 20262.13%0.98%0.03
23 Feb 20262.16%1.01%0.01
15 Feb 20262.17%1.02%0.03
28 Jan 20262.14%0.99%0.01
19 Jan 20262.15%1.00%0.01
8 Jan 20262.16%1.01%0.01
4 Jan 20262.17%1.02%0.07
30 Dec 20252.17%0.95%0.02
11 Dec 20252.19%0.97%0.01
10 Nov 20252.20%0.98%0.01
31 Oct 20252.19%0.97%0.05
29 Oct 20252.20%1.02%0.02
17 Sept 20252.18%1.00%0.01
12 Aug 20252.19%1.01%0.01
18 Jul 20252.20%1.02%0.01
6 Jun 20252.19%1.01%0.01
30 May 20252.20%1.02%0.01
20 May 20252.15%1.01%0.01
25 Apr 20252.14%1.00%0.01
11 Apr 20252.13%0.99%0.01
7 Apr 20252.14%0.98%0.01
2 Apr 20252.13%0.97%0.07
19 Mar 20252.15%1.04%0.01
7 Mar 20252.16%1.05%0.01
28 Feb 20252.15%1.04%0.01
24 Feb 20252.14%1.03%0.02
19 Feb 20252.16%1.05%0.01
16 Jan 20252.15%1.04%0.01
13 Jan 20252.16%1.05%0.01
2 Jan 20252.17%1.06%0.10
23 Sept 20242.17%0.96%0.03
16 Sept 20242.20%0.99%–
Direct plan, 15 Sept 2026
1.29%
Regular plan 2.41% · Exit load 1% if units are redeemed/switched out on or before completion of 15 days from the date of allotment. Nil if redeemed or switched out after completion of 15 days 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 Scheme seeks to generate long-term capital appreciation by investing in a diversified portfolio of Equity and Equity Related Instruments, Debt and Money Market Instruments, units of Gold Exchange Traded Funds (ETFs) and / or Silver ETFs and units of REITs & InvITs as per the asset allocation pattern of the Scheme. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.

Risk, type and benchmark

Riskometer
Very High
At launch
Very High
Type
An open-ended scheme investing in Equity, Debt, Gold and/or Silver
Benchmark
65% Nifty 50 TRI + 20% Nifty Composite Debt Index + 10% Domestic Prices of Gold + 5% Domestic Prices of Silver NIFTY Benchmark Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY 50 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 50 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY 50 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY 50 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

Asset allocation it may hold% of NAV

  1. Equity and Equity Related Instruments
    Allowed65–80%Holds68.5%
  2. Debt and Money Market Instruments including units of debt oriented mutual fund schemes
    Allowed10–25%
  3. Units of Gold / Silver /Commodity ETFs, ETCDs and any other mode of investment in commodities as permitted by SEBI from time to time
    Allowed10–25%
  4. Units issued by InvITs
    Allowed0–10%Holds0.0%

Holds in Aug 2026.68.5% equity · 31.5% 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 and any date of the month for weekly, fortnightly and monthly frequency, SWP - Daily (only business days) for daily Frequency and any date of the month for monthly, quarterly, half yearly and yearly 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
Minimum
SIP - Rs. 100 for daily frequency, Rs. 500 for weekly, fortnightly and monthly frequency, SWP - Rs. 500 for all frequencies , STP - Rs. 100 for all frequencies, then sIP - Rs. 1 thereof for all frequencies, SWP - Rs. 1 thereof for all frequencies, STP - Rs. 1 thereof for all frequencies
Instalments
SIP - 6 instalments for all frequencies, SWP - 6 instalments for all frequencies, STP - 6 instalments for all frequencies
Most
SIP - Not applicable, SWP - Not applicable, STP - Not applicable

Selling and switching

To redeem
1000 or the balance in the account of the unitholder, whichever is lower or Units Equivalent to Rs. 1000 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. 1000 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
Hybrid Scheme – Multi Asset Allocation Fund
Offer
20 Aug 2024 to 3 Sept 2024
Started
10 Sept 2024
Reopened
13 Sept 2024
Plans
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 · Direct Plan - Growth Option · Direct Plan - Reinvestment of Income Distribution cum Capital Withdrawal Option · Direct Plan - Payout of Income Distribution cum Capital Withdrawal Option · Direct 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/H/MAA/24/07/0026