Union Multi Asset Allocation Fund
Union Mutual Fund · Best Multi Asset Allocation Mutual Funds
This is the Direct plan of Union Multi Asset Allocation 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 31 of 36 Multi Asset Allocation peers1Y- 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 Multi Asset Allocation (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 31 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.
Not enough Multi Asset Allocation peers to rank yet
Volatility 11.2% vs 9.9% category avg
1.3% expense vs 0.9% category avg
Not enough history for a rolling 3Y view
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- 1-year return (+7.13%) beats the Multi Asset Allocation average (+5.75%)
Concerns
- More volatile than its Multi Asset Allocation peers (11.2% vs 9.9%)
- High expense ratio (1.29%) vs the Multi Asset Allocation average of 0.89%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Multi Asset Allocation)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -3.58% | -3.37% | -0.21% |
| 3M abs | -2.49% | -1.93% | -0.56% |
| 6M abs | +4.94% | +4.50% | +0.44% |
| 1Y CAGR | +7.13% | +5.75% | +1.38% |
| 3Y CAGR | — | +14.49% | — |
| 5Y CAGR | — | +13.01% | — |
Category average across peers in Multi Asset Allocation (up to 36 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 36 peers in Multi Asset Allocation
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
12 monthly installments of ₹10,000 into Union Multi Asset Allocation 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 50 TRI | Diff | |
|---|---|---|---|---|
| 2026part | +0.25% | -12.85% | +13.10% | |
| 2025 | +20.42% | +11.97% | +8.45% | |
| 2024part | -0.30% | — | — |
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- Equity68.46%
- Other17.05%
- Debt11.32%
- Cash & Equivalents3.17%
Fund size over time
Quarterly average AUM · AMFIAt or near its largest, ₹960.13Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
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 Innovation & Opportunities Fund
- Union Largecap 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
VMVinod MalviyaManaging since 01 Nov 2024
Co - Fund Manager
Bachelor of Management Studies, M aster’s in Financial Management, CFA (USA) – Level III cleared
Over 16 years of experience in the Financial markets as an Analyst. Designated as Fund Manager - Equity with effect from December 09, 2024. Appointed as Co-Fund Manager with effect from January 25, 2023. February 2020 – January 24, 2023 with Union Asset Management Company Pvt. Ltd. as Research Analyst - Equity. July 2014 to January 2020 with Florintree Advisors Private Limited as Union Children’s Principal. August 2012 to June 2014 with East India Securities Limited as Research Analyst. September 2008 to July 2012 with Amit Nalin Securities Private Limited as Research Analyst
- Union Aggressive Hybrid Fund (Formerly Union Hybrid Equity Fund)
- Union Children's Fund
- Union Consumption Fund
- Union ELSS Tax Saver Fund (Formerly Union Tax Saver (ELSS) Fund
- Union Flexi Cap Fund
- Union Focused Fund
- Union Gold ETF
- Union Gold ETF Fund of Fund
- Union Large & Midcap Fund
- Union Value Fund
- Union Retirement Fund - Direct Plan - Growth Option
ASAnindya SarkarStart date not disclosed
Fund Manager - Fixed Income
BE Civil, MBA (Finance), MBA (Risk & Insurance), FRM
Industry experience: Over 22 years of experience in Financial Services Sector. Appointed as Co-Fund Manager at Union Asset Management Company Private Limited with effect from November 01, 2018. September 01, 2010 to October 31, 2018 with Union Asset Management Private Limited (last position held: Vice President – Risk Management). November 2009 till August 2010 with Sarcon Blockbuild Ltd (Family business). June 2009 till September 2009 with Navigators Inc. and from September 2007 till May 2009 with St. John's University (part time employment while pursuing MBA – Risk and Insurance). February 2000 till March 2007 with ICAP India Private Limited as Dealer – Fixed Income.
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.
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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 Multi Asset Allocation funds
Multi asset funds spread money across at least three asset classes — typically equity, debt and gold — each at 10% or more. The mix aims to reduce the impact of any one asset having a bad year.
Frequently asked questions
What is the NAV of Union Multi Asset Allocation Fund?
As of 05 Oct 2026, the NAV of Union Multi Asset Allocation Fund is ₹12.12 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Union Multi Asset Allocation Fund delivered?
Union Multi Asset Allocation Fund has returned +7.13% over 1 year and +9.42% 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 Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund charges an expense ratio of 1.29% 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 Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund's largest holdings are Union Gold ETF (11.8%), ICICI Prudential Silver ETF (5.2%), ICICI Bank Ltd. (4.6%), HDFC Bank Ltd. (4.1%) and Reliance Industries Ltd. (2.5%). Holdings are disclosed monthly and change over time.
How risky is Union Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 11.2% and its worst peak-to-trough fall in our sample was -12.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
Who manages Union Multi Asset Allocation Fund?
Union Multi Asset Allocation Fund is managed by Sanjay Bembalkar, Vinod Malviya and Anindya Sarkar at Union.
How is Union Multi Asset Allocation Fund taxed?
Union Multi Asset Allocation 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.