India Business Journal - Union AMC to double AUM to Rs 10,000 cr

MONEY

Union AMC to double AUM to Rs 10,000 cr

IBJ Bureau
Jan 23, 2021

Union Asset Management Company (AMC) is looking beyond top-30 cities to double its asset base to Rs 10,000 crore within a year. Union AMC’s plan also comes against the backdrop of amalgamation of Andhra Bank and Corporation Bank with Union Bank of India, which is the co-sponsor of the fund house, along with Japan’s Dai-ichi Life Holdings.

The amalgamated entity now has more arsenals in terms of branches, manpower and number of customers. Union AMC is also looking to drive the business through mutual fund distributors to sell the financial product rather than depending only on bank branches.