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Union AMC has launched an open-ended debt scheme, Union Medium Duration Fund, which will invest in instruments maturing between three and four years. The NFO will open between August 24 and September 7 and its allotment on September 14. It will re-open for continuous sale and repurchase from September 21. The scheme is benchmarked against Crisil Medium Term Debt Index. G Pradeepkumar, CEO, Union AMC, said the launch of the Fund is a step towards bridging the gap in fixed-income debt scheme offerings of the company. The portfolio construction will be a prudent combination of strategic allocation to PSU/Corporate bonds of high credit quality and a tactical allocation to securities of the Government of India.
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