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

Union Innovation & Opp Fund Direct Growth Plan is at a NAV of ₹17.02 as of 18 Sep 2026, with AUM of ₹1,344 Cr. Its 1-year, 3-year and 5-year returns are 11.02%, 19.58% and 0%, respectively, and the scheme sits in the High Risk bucket.

Our view is that this is a growth-oriented equity fund for investors who can tolerate sharp swings and want exposure to a concentrated stock-picking style. The portfolio leans toward a smaller set of higher-conviction names, so the outcome can differ meaningfully from the benchmark in both directions.

Quick facts

Particular	Details
NAV	₹17.02 as of 18 Sep 2026
AUM	₹1,344 Cr
Expense Ratio	0.73%
Launch Date	06 Sep 2023
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Gaurav Chopra, Sanjay Bembalkar

The fund is managed by Gaurav Chopra and Sanjay Bembalkar.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.24%	-3.73%
3M	10.16%	-3.14%
1Y	11.02%	-5.31%
3Y	19.58%	6.30%
5Y	Data not available	Data not available

The recent pattern is better than the benchmark over every available period. Over 1 month, the fund stayed marginally positive while the benchmark was negative. The gap becomes much wider at 3 months and 1 year, which tells us the strategy has handled the recent market backdrop better than the index.

The longer stretch is still supportive, but it is not a smooth line. The 3-year figure is strong, yet the path has shown noticeable ups and downs, which is typical of a higher-risk equity portfolio with stock-specific bets. That means the fund has not simply tracked the index; it has relied on active calls to add value.

Because the fund’s own 1-year return is already ahead of the benchmark by a wide margin, recent momentum appears stronger than the index trend. The 3-year result also remains ahead, so the short-term and medium-term pictures are aligned rather than conflicting. There is no 5-year return to test a full-cycle comparison, so our read is based on the shorter track record available so far.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Union Innovation & Opp?

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 Innovation & Opp Fund Direct Growth Plan	11.02%	19.58%	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	65.43%	35.11%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	27.29%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	27.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	25.8%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	24.4%	Data not available	Data not available

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

The fund’s 1-year return trails the strongest peer numbers in this set, but its 3-year result remains competitive among the funds with a three-year figure available. The comparison therefore sends two different signals: on the near-term side, the fund has been more modest than some peers; on the medium-term side, it still shows a solid active-return profile. That mix is consistent with a fund that can outperform in some phases, but may not always match the sharpest specialist themes.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
One 97 Communications Ltd.	IT	5.22%
Eternal Ltd.	Retailing	4.78%
Ather Energy Ltd.	Domestic Equities	3.62%
Info Edge (India) Ltd.	IT	3.01%
CG Power and Industrial Solutions Ltd.	Capital Goods	2.96%
Ge Vernova T&D India Ltd.	Capital Goods	2.9%
Sai Life Sciences Ltd.	Domestic Equities	2.9%
Acutaas Chemicals Ltd.	Healthcare	2.76%
ZF Commercial Vehicle Control Systems India Ltd.	Automobile & Ancillaries	2.73%
Sona BLW Precision Forgings Ltd.	Automobile & Ancillaries	2.7%

The top 10 holdings account for approximately 33.58% of the portfolio.

To see all holdings, visit the Union Innovation & Opp Fund Direct Growth Plan page

The largest holding, One 97 Communications Ltd., carries a 5.22% weight, which is meaningful but not dominant on its own. The drop from the first holding to the tenth is gradual rather than abrupt, so the exposure is spread across several mid-sized positions instead of being concentrated in a single stock.

Even so, the top 10 names together account for about one-third of the portfolio, which suggests a moderate level of concentration in the visible part of the book. With 52 disclosed holdings in total, the fund also appears to use a wider tail beyond the top positions, so individual names may matter, but the portfolio is not limited to only a handful of stocks.

That structure may help the fund participate in multiple ideas at once, but it can also mean that performance is influenced by the success of several positions rather than only one or two large bets. For investors, the key point is that the fund’s return pattern and its stock list both point to an active, higher-risk style rather than a broad, index-like portfolio.

Source data date: as of 18 Sep 2026

Who should invest

This fund suits investors who can accept High Risk and are comfortable with a portfolio that can move differently from the benchmark over short periods. The 1-year result is positive and the 3-year result is stronger, but the path has been uneven, so the fund fits better with a patient horizon than with a short-term parking mindset.

The main trade-off is clear: you get active exposure and the possibility of meaningful excess return, but you also take on more volatility and less predictability than a plain index-style allocation. The portfolio’s spread across 52 holdings helps avoid overreliance on one name, yet the top positions still carry enough weight to affect outcomes.

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% if units are sold on or before 1 year; nil after 1 year.

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of Union Innovation & Opp Fund Direct Growth Plan?
The current NAV is ₹17.02 as of 18 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 11.02% for 1 year, 19.58% for 3 years and Data not available for 5 years.

How has the fund performed versus the benchmark?
It has outperformed the benchmark across all available periods in this review. The gap is especially visible over 3 months and 1 year.

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

Who manages the fund?
Gaurav Chopra and Sanjay Bembalkar manage the fund.

What is the exit load and risk category?
The fund is in the High Risk category. Exit load is 1% if units are sold on or before 1 year, and nil after 1 year.

Bottom line

Union Innovation & Opp Fund Direct Growth Plan has done better recently than its benchmark, and its 3-year record stays ahead as well. That said, the ride has not been smooth, which fits a High Risk equity fund with a relatively concentrated set of holdings. The top 10 positions make up about 33.58% of assets, so individual stock outcomes can matter. It may suit investors who want active equity exposure and can stay invested through uneven phases.

Published on 21 September 2026 at 11:12 AM 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.