Union AMC aims to double assets base to Rs 10,000 crore this year

Union AMC has set sights on doubling its assets under management (AUM) to Rs 10,000 crore this calendar year, from about Rs 5,000 crore at the end of December last year.

The fund house has more branches, workforce, and num­ber of customers at its disposal thanks to the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India (UBI) last year. It has also shifted focus to driving the business through distributors, besides UBI.

To that end, the company improved its share of non-associate distributors to about 11 per cent of average AUM in Nove­m­ber 2020, from close to 3