Union Asset Management Company Private Limited (Investment Manager of Union Mutual Fund) appoints Mr. VinayPaharia as the Chief Investment Officer (CIO)
Union Asset Management Company Private Limited (“Union AMC”) appoints Mr. Vinay Paharia as the Chief Investment Officer (CIO). Mr. Paharia brings with him over 15 years of extensive experience covering the entire gamut of research and fund management.
As the CIO, Vinay will be responsible for overseeing the entire investment function.
In his earlier role, he has worked with Invesco Asset Management (India) Private Limited as Fund Manager – Equity where he has been successfully managing various equity mutual fund schemes.
He has also worked as an Equity Research Analyst with DBS Cholamandalam AMC, K.R. Choksey Shares & Securities Private Ltd and First Global Stock broking Pvt Ltd.
Mr. Paharia holds a B. Com degree from Narsee Monjee College and an M.M.S. degree from Welingkar Institute of Management, Mumbai.
Speaking on the appointment, Mr. G Pradeep kumar, Chief Executive Officer (CEO), Union AMC said, “We are delighted to have Vinay on board. His expertise will definitely be a growth driver for the AMC and will help us in delivering value to our investors. His in-depth knowledge and rich experience would be of great value in building the investment processes of the organization”.
Mr. Vinay Paharia, CIO, Union AMC said, “I am thankful to Union Mutual Fund for giving me the opportunity to lead the investment platform of a strong and well established Mutual Fund brand.
Mutual funds have emerged as an excellent saving tool for investors, having increased its share in the overall savings pool by riding the trend of financialization of savings in India. They represent a transparent and efficient way of participating in India's growth story, for both retail and institutional investors.
I intend to strengthen the investment process at the fund house, to deliver sustainable and consistent investment outcomes for our family of investors, while remaining true to mandate.”
About Union Mutual Fund
Union AMC, which is the Investment Manager of Union Mutual Fund, is a 100% subsidiary of Union Bank of India. As on 31st March 2018, Union Mutual Fund has 9 open-ended schemes and 3 close-ended schemes in the Equity, Debt & Hybrid categories with a total Average Assets Under Management (AAUM) of Rs. 4,305.04 crore for the quarter ended 31st March 2018.
Union Mutual Fund continues to grow its investor base. The total folio count as on 31st March 2018 stood at 202861.
Through active participation from tier II and beyond cities, a large number of investors in Union Mutual Fund Schemes are first-time investors in Mutual Funds. Union AMC’s plan is to deepen its reach in Mutual Fund distribution along with the Union Bank of India client network in the next five years.
(Mutual Fund investments are subject to market risks, read all scheme related documents carefully.)