Fundalysisby DARKHORSESTOCKS

Scheme

Union Retirement Fund

Holds 76 companies worth ₹213 Cr in Aug 2026.

  • Fund house

    UnionThe fund house that runs this scheme.

  • AUM

    ₹207 CrUnion Retirement Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 4.5% on Aug 2026, ₹216 Cr.

  • Largest holding

    ICICI BankICICI Bank is 6.0% of this scheme's NAV.

  • Fund manager

    Pratik DharmshiRuns its co-manager part since 9 Dec 2024, as the fund house dates it. With Pratit Vajani (co-manager).

Overview(6 Oct 2026)

Fund managers2

  1. Pratik DharmshiCo-manager · Dec 2024 · 15y · CA B.Com
  2. Pratit VajaniCo-manager · Jul 2025 · 7y · PGDM B.Tech
  1. Vinod MalviyaNov 2024 – Jul 2025
  2. Sanjay BembalkarSept 2022 – Dec 2024
  3. Hardick BoraJan 2023 – Nov 2024

Key facts

Benchmark
BSE 500 Index (TRI)
Risk
Very High
Expense
Regular 2.68% · Direct 1.36%
Exit load
Nil
Started
22 Sept 2022
Minimum
₹1,000

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

What changed(34 changes)

Oct 2026

1 change
  1. Expense ratio
    5 OctRegular 2.69% → 2.68%Direct 1.37% → 1.36%

Sept 2026

2 changes

Aug 2026

1 change
  1. Expense ratio
    2 AugRegular 2.71% → 2.69%Direct 1.41% → 1.39%

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Sept 2022 – now)

  1. Pratik Dharmshi
  2. Pratit Vajani
  3. Vinod Malviya
  4. Sanjay Bembalkar
  5. Hardick Bora
MainCoSlice2023202420252026
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.
29 changesRegularDirectΔ pt
5 Oct 20262.68%1.36%0.01
15 Sept 20262.69%1.37%0
6 Sept 20262.66%1.37%0.02
2 Aug 20262.69%1.39%0.02
6 Jul 20262.71%1.41%0.06
18 Jun 20262.65%1.35%0.20
14 Jun 20262.45%1.15%1.01
8 Jun 20263.46%2.16%0.86
1 Jun 20262.60%1.30%0.15
24 May 20262.42%1.15%0.59
18 May 20263.01%1.74%0.17
12 May 20262.83%1.57%0.03
11 May 20262.80%1.54%0.39
26 Apr 20262.42%1.15%1.45
22 Apr 20263.86%2.60%0.43
16 Apr 20263.44%2.17%0.72
9 Apr 20262.72%1.45%0.30
7 Apr 20262.42%1.15%0.01
16 Mar 20262.42%1.16%0.02
7 Dec 20252.40%1.14%0.01
31 Oct 20252.39%1.13%0.02
12 Aug 20252.39%1.11%0.11
11 Apr 20252.37%1.00%0.17
2 Apr 20252.35%0.83%1.09
7 Mar 20252.39%1.92%0.71
24 Feb 20252.43%1.21%0.02
13 Jan 20252.41%1.19%0.03
23 Aug 20242.38%1.16%0.05
20 Aug 20242.38%1.11%–
Direct plan, 5 Oct 2026
1.36%
Regular plan 2.68% · Exit load nil
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 generate long term capital gains by investing in a mix of securities comprising of equity, equity related securities and debt instruments as per the asset allocation pattern of the Scheme with a view to provide a retirement investment solution to investors. However, there is no assurance 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 retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier).
Benchmark
BSE 500 Index (TRI)

Asset allocation it may hold% of NAV

  1. Equity and Equity related instruments
    Allowed65–100%Holds98.5%
  2. Debt and Money Market instruments
    Allowed0–35%Holds1.5%
  3. Units issued by InvITs
    Allowed0–10%Holds0.0%

Holds in Aug 2026.98.5% equity · 1.5% 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, 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, STP - Rs. 100, 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 Units Equivalent to Rs. 1,000 units
Switch multiples
Switch in: in multiples of Rs. 1, Switch out: in multiples of Rs. 1 or Switch in: Units Equivalent to Rs. 1, Switch out: Units Equivalent to Rs. 1 units
Switch most
No Limit or No Limit units

Scheme details(6 Oct 2026)

What it is

Category
Retirement Fund
Offer
1 Sept 2022 to 15 Sept 2022
Started
22 Sept 2022
Reopened
29 Sept 2022
Plans
Direct Plan - Growth Option · Direct Plan - Payout of Income Distribution cum Capital Withdrawal Option · Regular Plan - Growth Option · Regular Plan - Payout 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/S/RET/22/05/0020