Union Innovation & Opportunities Fund
This is the Direct plan of Union Innovation & Opportunities Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
Performance
Scorecard
★★★☆☆3/5 vs 142 of 255 Sectoral/ Thematic peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Sectoral/ Thematic (same plan and option). 142 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +17.69% · ranks 41 of 142 Sectoral/ Thematic funds
Volatility 17.9% vs 15.6% category avg
1.0% expense vs 1.3% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Ahead of the Sectoral/ Thematic average on 3M/6M/1Y — 1Y by 4.67pp
- 3-year return (+17.69%) beats the Sectoral/ Thematic average (+13.77%)
- Stronger risk-adjusted returns — Sharpe 0.63 vs 0.44 Sectoral/ Thematic average
- Low expense ratio (0.99%) vs the Sectoral/ Thematic average of 1.27%
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- More volatile than its Sectoral/ Thematic peers (17.9% vs 15.6%)
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Sectoral/ Thematic)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -4.43% | -4.47% | +0.04% |
| 3M abs | +2.99% | -2.35% | +5.34% |
| 6M abs | +25.31% | +12.01% | +13.30% |
| 1Y CAGR | +8.04% | +3.37% | +4.67% |
| 3Y CAGR | +17.69% | +13.77% | +3.92% |
| 5Y CAGR | — | +12.04% | — |
Category average across peers in Sectoral/ Thematic (up to 255 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 255 peers in Sectoral/ Thematic
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
36 monthly installments of ₹10,000 into Union Innovation & Opportunities Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | Nifty 500 TRI | Diff | |
|---|---|---|---|---|
| 2026part | +10.14% | -7.18% | +17.32% | |
| 2025 | -2.58% | +7.94% | -10.52% | |
| 2024 | +42.90% | +16.43% | +26.47% | |
| 2023part | +6.24% | — | — |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Equity97.37%
- Cash & Equivalents2.55%
- Debt0.08%
AMC Profile
Union Mutual Fund is sponsored by Union Bank of India, and was branded Union KBC until its Belgian joint-venture partner exited. It runs a small equity, hybrid and debt line-up.
Fund Managers
SBSanjay BembalkarStart date not disclosed
Co-Head-Equity
CFA® charterholder with the CFA Institute, USA, Chartered Accountant, M.Sc. (Accounting and Finance), B.Com.
Industry experience: Over 17 years of experience in the field Innovation of Equity Research and Fund Management. Appointed as Fund Manager (Equity) at Union Asset Management Company Private Limited with effect from June 07, 2021. October 2019 to May 2021 with Canara Robeco Asset Management Company Limited as Fund Manager Equities. December 2017 to October 2019 with Canara Robeco Asset Management Company Limited as Research Analyst – Equity. August 2015 to December 2017 with LIC Mutual Fund Asset Management Ltd. as Research Analyst – Equity. • April 2010 to August 2015 with Quantum Advisors Pvt. Ltd. as Assistant Vice President (Equity Research). •
- Union Active Momentum Fund
- Union Aggressive Hybrid Fund (Formerly Union Hybrid Equity Fund)
- Union Balanced Advantage Fund
- Union Consumption Fund
- Union ELSS Tax Saver Fund (Formerly Union Tax Saver (ELSS) Fund
- Union Equity Savings Fund
- Union Flexi Cap Fund
- Union Focused Fund
- Union Largecap Fund
- Union Multi Asset Allocation Fund
- Union Multicap Fund
- Union Small Cap Fund
- Union Business Cycle Fund - Direct Plan - Growth Option
- Union Large & Midcap Fund - Direct Plan - Growth Option
- Union Midcap Fund - Direct Plan - Growth Option
- Union Retirement Fund - Direct Plan - Growth Option
GCGaurav ChopraManaging since 01 Nov 2024
Co - Fund Manager
B.Com, Chartered Accountant and CFA (USA) – Level III Appointed cleared
Over 10 years of experience in the equity markets. Appointed as Co-Fund Manager with effect from January 25, 2023. June 2020 – January 24, 2023 with Union Asset Management Company Pvt. Ltd as Research Analyst - Equity. November 2015 to May 2020 with Centrum Portfolio Union Management Services Centrum Broking Limited as Research Analyst. March 2015 to October 2015 with Barclays Wealth Trustees (India) Private Limited as Trust Analysts. September 2011 to September 2014 with Sharp & Tanan Associates as Audit Assurance Assistant.
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
Union in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
Union Mutual Fund Says: When It Comes to Investing, Don’t Just Take a ‘Tukka’
IMPACT Magazine · 4d ago
‘Tukka Nahi ,Tareeka Chahiye’ now has a tune: Union Mutual Fund adds a jingle to its investor awareness campaign
Adgully.com · 4d ago
‘Tukka Nahi, Tareeka Chahiye’ now has a tune: Union Mutual Fund adds a jingle to its investor awareness campaign
Passionate In Marketing · 4d ago
Union Dynamic Term Fund - Regular Plan Portfolio
The Economic Times · 4d ago
Union Short Term Fund(Ex)-IDCW Daily
The Economic Times · 25d ago
Union Short Term Fund(Ex)-IDCW Fortnightly
The Economic Times · 03 Sep 2026
Union Short Term Fund(Ex)-Growth
The Economic Times · 03 Sep 2026
Union Short Term Fund(Ex)-Growth
The Economic Times · 03 Sep 2026
Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Sectoral & Thematic funds
Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.
From the blog
Frequently asked questions
What is the NAV of Union Innovation & Opportunities Fund?
As of 05 Oct 2026, the NAV of Union Innovation & Opportunities Fund is ₹16.19 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Union Innovation & Opportunities Fund delivered?
Union Innovation & Opportunities Fund has returned +8.04% over 1 year, +17.69% per year over 3 years and +17.28% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Union Innovation & Opportunities Fund?
Union Innovation & Opportunities Fund charges an expense ratio of 0.99% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Union Innovation & Opportunities Fund?
Union Innovation & Opportunities Fund's largest holdings are One 97 Communications Ltd. (5.2%), Eternal Ltd. (4.8%), Ather Energy Ltd. (3.6%), Info Edge (India) Ltd. (3.0%) and CG Power and Industrial Solutions Ltd. (3.0%). Holdings are disclosed monthly and change over time.
How risky is Union Innovation & Opportunities Fund?
Union Innovation & Opportunities Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 17.9% and its worst peak-to-trough fall in our sample was -23.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.63 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Union Innovation & Opportunities Fund's 0.63 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Union Innovation & Opportunities Fund?
Union Innovation & Opportunities Fund is benchmarked against the As per AMFI Tier I benchmark Nifty 500 Index (TRI) @@@. Its alpha and beta on this page are measured against that index.
Who manages Union Innovation & Opportunities Fund?
Union Innovation & Opportunities Fund is managed by Sanjay Bembalkar and Gaurav Chopra at Union.
How is Union Innovation & Opportunities Fund taxed?
Union Innovation & Opportunities Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.