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Sectoral / Thematic · Equity

Union Innovation & Opportunities Fund

Union Asset Management Company Private Limited
Benchmark
Nifty 500 TRI
Riskometer
Very High
Size
₹1,306 cr
Allotted
6 Sep 2023
Holdings as of
30 Sep 2026

Union Innovation & Opportunities Fund is a sectoral / thematic fund of Union Asset Management Company Private Limited with ₹1,306 cr under management. It is ahead of its benchmark (Nifty 500 TRI) in 2 of 2 periods. Its direct plan charges 0.98% a year. Sanjay Bembalkar has managed it for 3.1 years.

Has Union Innovation & Opportunities Fund beaten its benchmark?

Ahead of its benchmark, Nifty 500 TRI, in 2 of 2 periods in AMFI's figures; +7.71% over the last year against −4.30%.

Period returns

Direct Plan, growth · 3y and longer a year
PeriodFundNifty 500 TRIAhead
1 month−4.40% −3.60% —
3 months+1.18% −5.03% —
6 months+16.93% −1.83% —
1 year+8.09% −4.06% +12.15 pts
3 years+17.70% +9.27% +8.43 pts
5 years— +8.00% —
10 years— +12.69% —
Since start
from 13 Sep 2023
+17.39%——
Valarth price history to 14 Oct 2026 · the index is the one the fund is nearest; — not on record

Official figures

AMFI performance feed, 13 Oct 2026
Ahead of its benchmark (Nifty 500 TRI) in 2 of 2 periods.
PeriodDirectRegularBenchmarkAheadRank
1y +7.71%+6.18%−4.30% +12.01 🔒
3y +17.79%+16.08%+9.33% +8.46 🔒
5y ——— — —
10y ——— — —
Ahead in points a year · its rank among Sectoral / Thematic funds, and how steady the lead is, in the app

Value of 100, month-end

Sep 2023 to 14 Oct 2026
50100150200 2025
Fund 164Nifty 500 TRI 131

₹100 put in at the start of Sep 2023 would be ₹164 on 14 Oct 2026, against ₹131 in the Nifty 500 TRI.

Risk, falls and every year

🔒 Pro
Its worst fall and how long it took to recover, three-year stretches, Sharpe, beta and capture ratios, calendar years beside the index, and money in and out: in the app.
See them in the app →

What does Union Innovation & Opportunities Fund cost?

0.98% a year on the direct plan, 2.35% on the regular plan; 39 of 174 funds in its category charge less.

Direct plan
0.98% a year
Category median 1.22%
Regular plan
2.35% a year
Category median 2.38%
Gap
1.37 points
for the same holdings
39 of 174 funds in its category charge less on the direct plan.
Expense report, Oct 2026 · Equity Scheme - Sectoral/ Thematic

What the regular plan costs you over time

🔒 Pro
The same money left for years in the direct and the regular plan, side by side, and what the commission takes: in the app.

Who manages Union Innovation & Opportunities Fund?

Gaurav Chopra, since 1 Nov 2024; Sanjay Bembalkar, since 6 Sep 2023.

Gaurav Chopra
2.0 years
since 1 Nov 2024
Sanjay Bembalkar
3.1 years
since 6 Sep 2023
Benchmark as filedNifty 500 Index (TRI) Nifty Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (For
Exit load
1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units.
From 39 Scheme Summary Documents filed with NSE, first on 16 Apr 2026; as on 12 Oct 2026

What does Union Innovation & Opportunities Fund hold?

57 holdings as of 30 Sep 2026; the ten largest are 34.3% of the fund, the largest One 97 Communications Ltd. at 5.2%.

Mix

Holdings as of 30 Sep 2026
Equity96.1%Debt0.1%Cash3.8%Other0.0%
Holdings
57
53 shares
Top ten
34.3%
of the fund
Effective holdings
40.0
spread, as if equal-weighted
Matched to our table
100%
of the equity

Five largest

% of fund
One 97 Communications Ltd.5.25%
Eternal Ltd.4.80%
Info Edge (India) Ltd.3.49%
GE Vernova T&D India Ltd.3.20%
Sai Life Sciences Ltd.3.12%

Five largest industries

% of fund
Retailing16.2%
Auto Components10.7%
Electrical Equipment8.10%
Pharmaceuticals & Biotechnology6.30%
Financial Technology (Fintech)6.10%

By company size

% of equity · SEBI size lists
Large Cap13.6%Mid Cap28.9%Small Cap57.4%

How does Union Innovation & Opportunities Fund score against its category?

Seven scores against funds of its kind, and the warning signs it trips.

Scorecard

🔒 Pro
Seven scores, each out of 5, against funds in its category, with the reasons, and the warning signs it trips: in the app.
Open scorecard in the app →

Are the companies inside any good?

The holdings by valuation, forensic risk, business quality and balance sheet, weighted by their share of the fund.

The companies inside

🔒 Pro
The holdings weighted by their share of the fund: P/E and ROE, forensic risk levels, Valarth's valuation view, quality, moats, balance sheets and who owns them: in the app.

How is Union Innovation & Opportunities Fund run?

Turnover, what it bought and sold, its cash and its record in new listings, from its monthly holdings files.

How it is run

🔒 Pro
Turnover, what it bought and sold and when, how long it holds, size drift, cash and its record in new listings, from up to two years of monthly holdings files: in the app.

Which funds hold much the same?

The index it is nearest and the funds whose holdings overlap most.

not an index tracker
Nearest to the Nifty Smallcap 250: 85% of it differs from the index (an active fund is usually above 60%).
Active share 84.6%60%

Funds that hold much the same

% of holdings in common
Axis Innovation Fund38.8% the same
22 shared holdings
UNION MIDCAP FUND34.7% the same
28 shared holdings
UTI Innovation Fund31.1% the same
15 shared holdings

How much is in its sponsor's own group?

Holdings in companies of the fund house's sponsor group, beside the index.

Related-party exposure

🔒 Pro
How much of the fund is in companies of its sponsor's own group, beside what the index holds of them: in the app.

Questions people ask

Who manages Union Innovation & Opportunities Fund?

Gaurav Chopra (manager) since 1 Nov 2024; Sanjay Bembalkar (manager) since 6 Sep 2023.

What is the expense ratio of Union Innovation & Opportunities Fund?

0.98% a year on the direct plan and 2.35% on the regular plan (expense report, Oct 2026).

How has Union Innovation & Opportunities Fund done?

Its direct plan returned +17.79% a year over 3 years against +9.33% for its benchmark, Nifty 500 TRI, as of 13 Oct 2026.

Inside the app

See Union Innovation & Opportunities Fund beside your own funds in Valarth

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Union Innovation & Opportunities Fund in the app: beside your own funds, with what you own through them

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