Fundalysisby DARKHORSESTOCKS

Scheme

Union Value Fund

Holds 65 companies worth ₹385 Cr in Aug 2026.

  • Fund house

    UnionThe fund house that runs this scheme.

  • AUM

    ₹378 CrUnion Value Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 5.3% on Aug 2026, ₹399 Cr.

  • Largest holding

    ICICI BankICICI Bank is 6.7% of this scheme's NAV.

  • Fund manager

    Gaurav ChopraRuns its co-manager part since 1 Nov 2024, as the fund house dates it. With Vinod Malviya (co-manager).

Overview(16 Sept 2026)

Fund managers2

  1. Gaurav ChopraCo-manager · Nov 2024 · 11y · CA B.Com
  2. Vinod MalviyaCo-manager · Nov 2024 · 17y
  1. Hardick BoraJan 2023 – Nov 2024
  2. Sanjay BembalkarJun 2021 – Nov 2024

Key facts

Benchmark
BSE 500 Index (TRI)
Risk
Very High
Expense
Regular 2.71% · Direct 1.51%
Exit load
1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.
Started
5 Dec 2018
Minimum
₹1,000

Source.Its Scheme Summary Document as of 16 Sept 2026 at AMFI.

What changed(35 changes)

Sept 2026

2 changes

Aug 2026

1 change
  1. Expense ratio
    2 AugRegular 2.69% → 2.73%Direct 1.54% → 1.58%

Jul 2026

1 change
  1. Expense ratio
    6 JulRegular 2.65% → 2.69%Direct 1.5% → 1.54%

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Jun 2021 – now)

  1. Gaurav Chopra
  2. Vinod Malviya
  3. Hardick Bora
  4. Sanjay Bembalkar
MainCoSlice20222023202420252026
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 – Sept 2026)

Every change to the expense ratio, newest first.
32 changesRegularDirectΔ pt
15 Sept 20262.71%1.51%0.03
6 Sept 20262.69%1.54%0.04
2 Aug 20262.73%1.58%0.04
6 Jul 20262.69%1.54%0.04
18 Jun 20262.65%1.50%0.19
28 May 20262.45%1.31%0.05
24 May 20262.42%1.26%0.82
18 May 20263.24%2.08%0.78
12 May 20262.46%1.30%0.70
11 May 20263.16%2.00%0.36
5 May 20263.53%2.36%0.65
28 Apr 20262.87%1.71%0.45
26 Apr 20262.42%1.26%0.52
22 Apr 20262.94%1.78%0.32
16 Apr 20262.63%1.46%0.04
9 Apr 20262.66%1.50%0.24
7 Apr 20262.42%1.26%0.03
16 Mar 20262.48%1.23%0.02
26 Feb 20262.46%1.21%0.12
3 Feb 20262.48%1.33%0.01
4 Jan 20262.47%1.32%0.01
7 Dec 20252.48%1.33%0.01
12 Aug 20252.47%1.32%0.12
30 May 20252.45%1.20%0.01
11 Apr 20252.44%1.19%0.17
2 Apr 20252.42%1.02%0.08
7 Mar 20252.45%1.10%0.22
16 Jan 20252.49%1.32%0.02
13 Jan 20252.47%1.30%0.01
2 Jan 20252.46%1.29%0.05
23 Aug 20242.47%1.34%0.05
20 Aug 20242.45%1.29%–
Direct plan, 15 Sept 2026
1.51%
Regular plan 2.71% · Exit load 1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.
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(16 Sept 2026)

Objective

The investment objective of the scheme is to seek to generate long term capital appreciation by investing substantially in a portfolio of equity and equity related securities of companies which are undervalued (or are trading below their intrinsic value). However, there can be 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 equity scheme following a value investment strategy.
Benchmark
BSE 500 Index (TRI)

Asset allocation it may hold% of NAV

  1. Equity and Equity related instruments
    Allowed80–100%Holds96.5%
  2. Money Market Instruments, Other Liquid Instruments and other assets as permitted by SEBI
    Allowed0–20%Holds3.5%
  3. Units issued by InvITs
    Allowed0–10%Holds0.0%

Holds in Aug 2026.96.5% equity · 3.5% debt and cash

How to invest(16 Sept 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 frequencySWP - 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 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(16 Sept 2026)

What it is

Category
Value Fund
Offer
14 Nov 2018 to 28 Nov 2018
Started
5 Dec 2018
Reopened
12 Dec 2018
Plans
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 · 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
No
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/VAF/18/05/0009