Union Mutual Fund (MF) recently launched the new fund offer (NFO) of its children’s fund, which closes on December 12. Altogether, 11 funds within this category have assets under management (AUM) of Rs 17,260 crore.
Diverse category
Schemes within this category vary considerably, with equity allocation ranging from 23.9 per cent to 98.3 per cent. “Children’s funds have varied asset allocation patterns — equity, debt, and hybrid oriented — which the investor can choose from based on individual risk appetite and time horizon,” says Vishal Chopda, fund manager, UTI Asset Management Company (AMC).
The style of fund management also varies. Says Sanjay Bembalkar,