Union Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Union Focused Fund Direct Growth Plan has a NAV of ₹28.63 as of 15 Sep 2026 and manages ₹462 Cr. Its 1-year, 3-year and 5-year returns are 3.25%, 9.97% and 9.2%, respectively, and the scheme is tagged as High Risk. Our view is that the fund has shown a steadier long-term profile than its recent one-year stretch, which makes it more suitable for investors who can tolerate meaningful price swings and want a focused equity allocation rather than a defensive fund.

The portfolio is led by a relatively compact set of positions, with financials, chemicals, healthcare and consumer names among the largest holdings. That mix can support upside when selected stocks do well, but it can also make results more uneven. For investors who can stay invested through volatility, the combination of focused stock selection and a long-term return profile may be worth monitoring.

Quick facts

Particular	Details
NAV	₹28.63 as of 15 Sep 2026
AUM	₹462 Cr
Expense Ratio	1.46%
Launch Date	05 Aug 2019
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Pratik Dharmshi, Vinod Malviya

The fund is managed by Pratik Dharmshi and Vinod Malviya.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.01%	-4.81%
3M	0.81%	-3.63%
1Y	3.25%	-8.27%
3Y	9.97%	5.59%
5Y	9.2%	5.58%

The one-month picture is weak, and the fund has slipped more than the benchmark over that slice. That said, the three-month return has already turned positive while the benchmark stayed negative, which suggests the recent patch is not uniformly soft. For investors, that mix matters: the fund can recover, but short stretches have still been choppy.

Over one year, the fund is positive while the benchmark is negative, which is a clear relative advantage. The longer view is also constructive, with 3-year and 5-year returns above the benchmark in both cases. That tells us the fund has delivered better compounding than Nifty 50 across medium and long horizons, even though the path has not been smooth.

The trend in the return pattern points to a strategy that can lag in difficult spells yet still build value over time. The 3-year and 5-year numbers are meaningfully stronger than the benchmark, but the recent one-month decline shows that near-term volatility remains part of the experience. Investors should read the fund as a long-horizon equity option rather than a stable, low-variance holding.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Union Focused?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Union Focused Fund Direct Growth Plan	3.25%	9.97%	9.2%
Motilal Oswal Focused Fund Direct Growth Plan	22.84%	13.21%	10.13%
Old Bridge Focused Fund Direct Growth Plan	14.09%	Data not available	Data not available
SBI Focused Fund Direct Growth Plan	12.8%	15.38%	12.15%
Quant Focused Fund Direct Growth Plan	11.1%	12.62%	13.61%
ITI Focused Fund Direct Growth Plan	7.42%	16.93%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the recent one-year measure, the fund trails several peer returns and is well below the strongest one-year figures in this set. The 3-year and 5-year readings are also moderate relative to the better peer numbers, so the longer-term profile does not stand out on the available peer data. That said, the comparison is not one-dimensional: the fund’s one-year return is far ahead of its benchmark’s negative reading, so it has still done better than the market bar it is measured against.

The short-term and longer-term peer pictures point in different directions. Recent performance looks weaker than several focused peers, while the benchmark comparison across 3-year and 5-year periods remains healthier. For us, that means the fund looks more like a steady compounding candidate than a standout momentum story.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	9.03%
Solar Industries India Ltd.	Chemicals	5.22%
Gabriel India Ltd.	Automobile & Ancillaries	4.82%
Navin Fluorine International Ltd.	Chemicals	4.28%
Tata Consumer Products Ltd.	Agri	4.2%
Eternal Ltd.	Retailing	4.17%
Torrent Pharmaceuticals Ltd.	Healthcare	4.14%
Multi Commodity Exchange of India Ltd.	Finance	3.88%
HDFC Bank Ltd.	Bank	3.84%
Hitachi Energy India Ltd.	Capital Goods	3.8%

The top 10 holdings account for approximately 47.38% of the portfolio.

To see all holdings, visit the Union Focused Fund Direct Growth Plan page

The largest holding, ICICI Bank Ltd., carries a 9.03% weight, so it is likely to have greater influence than any other single position. The drop from the first holding to the tenth is visible, but not extreme, which suggests the fund is not relying on only one or two names. Instead, it spreads meaningful weight across a set of larger positions that may each contribute to returns and risk in a noticeable way.

At the same time, the top 10 holdings together account for 47.38% of the portfolio, leaving more than half of the scheme across the remaining disclosed positions. With 30 holdings in total, the fund appears to balance focus with a broader tail of smaller positions. That structure may reduce dependence on just a few stocks, though the largest names can still drive a meaningful share of the outcome.

For investors, the portfolio profile supports a view of moderate concentration rather than extreme concentration. The fund may therefore behave differently from a highly diversified index fund, but it is also not fully dominated by one stock. That middle ground can be attractive for long-term equity investors who are comfortable with active stock selection.

Source data date: as of 15 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk and can hold through weak months as well as stronger multi-year periods. The return pattern shows that the fund has been better over 3-year and 5-year spans than over very short windows, so it suits a horizon measured in years rather than months.

The main trade-off is that the same focused equity approach that helps the fund build long-term returns can also create noticeable short-term swings. Investors looking for a smoother ride may find the volatility uncomfortable, while those who can accept that trade-off may appreciate the fund’s ability to stay ahead of the benchmark over longer periods.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: 1% on or before 15D, Nil after 15D.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Union Focused Fund Direct Growth Plan?
Its current NAV is ₹28.63 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 3.25%, 9.97% and 9.2%.

How has it done versus Nifty 50?
It has outpaced Nifty 50 over 1 year, 3 years and 5 years. The benchmark returns are -8.27%, 5.59% and 5.58% for those periods.

How does it compare with other focused funds on recent returns?
Its 1-year return is below several peers in the focused-fund set, while its 3-year and 5-year returns are more mid-pack in the available comparison. That gives the fund a mixed peer picture across time frames.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

Who manages the fund and what is its risk profile?
The fund is managed by Pratik Dharmshi and Vinod Malviya. It is tagged as High Risk, and its portfolio is led by ICICI Bank Ltd. at 9.03% weight.

Bottom line

Union Focused Fund Direct Growth Plan has a weaker very short-term patch, but its 3-year and 5-year returns remain healthier than the benchmark, which points to better long-horizon compounding than its recent month-to-month behaviour. Against the focused-fund peer set, the latest one-year return is not especially strong, while the medium- to long-term profile looks more balanced. With High Risk tagging and a portfolio led by a meaningful but not overwhelming top holding, it suits investors who can stay patient through volatility and value stock selection over time.

Published on 16 September 2026 at 1:17 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.