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

Union Value Fund Direct Growth Plan is at ₹29.87 as of 15 September 2026, with scheme AUM of ₹398 Cr. Its 1-year, 3-year and 5-year returns are -0.93%, 10.75% and 11.99% respectively, and the fund sits in the High Risk category. Our view is that the fund has shown a better longer-term pattern than its near-term result suggests, but the recent stretch has been weaker and more uneven than the 3-year and 5-year record.

The portfolio is built around a fairly focused set of large positions, led by banks and a few diversified cyclical names. That mix can support upside when value-style ideas work, but it also means returns may vary sharply across market phases, which is important for investors who can tolerate volatility and hold through longer cycles.

Quick facts

Particular	Details
NAV	₹29.87 as of 15 Sep 2026
AUM	₹398 Cr
Expense Ratio	1.32%
Launch Date	05 Dec 2018
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	Vinod Malviya, Gaurav Chopra

The fund is managed by Vinod Malviya and Gaurav Chopra.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.75%	-4.81%
3M	-2.07%	-3.63%
1Y	-0.93%	-8.27%
3Y	10.75%	5.59%
5Y	11.99%	5.58%

The short-term picture has been softer than the medium-term trend. Over 1 month and 3 months, the fund has been negative, but it has still held up better than the benchmark in both periods. That tells us the recent slide has been contained relative to the NIFTY 50, even though it has not delivered positive near-term returns.

The 1-year number is especially important because it shows the fund lagging its own longer-run rhythm. At -0.93%, the trailing year is weaker than the 3-year and 5-year figures, which suggests the latest cycle has been less supportive for the strategy. The benchmark also fell over the year, but the fund lost less, so relative downside control has been better than absolute return strength.

Over 3 years and 5 years, the fund has compounded at 10.75% and 11.99%, versus 5.59% and 5.58% for the benchmark. That gap points to a meaningful long-run edge over the benchmark. Our reading is that the strategy has rewarded patience, even if the most recent year has interrupted that pattern. The time profile looks more cyclical than steady, which is consistent with a value-oriented equity approach.

Viewed together, the record suggests a fund that can move through difficult stretches and still build value over longer periods. The recent weakness matters, but it does not erase the stronger 3-year and 5-year trend.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Union Value?

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 Value Fund Direct Growth Plan	-0.93%	10.75%	11.99%
Quant Value Fund Direct Growth Plan	19.58%	19.9%	Data not available
LIC MF Value Fund Direct Growth Plan	17.5%	15.81%	13.33%
Aditya Birla SL Value Fund Direct Growth Plan	10.2%	13.21%	13.75%
Axis Value Fund Direct Growth Plan	9.73%	17.74%	Data not available
Mahindra Manulife Value Fund Direct Growth Plan	9.33%	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 is well below several peer funds in this value category set, while its 3-year and 5-year figures are more competitive and sit closer to the stronger longer-term numbers in the group. That split matters: the short-term comparison is not flattering, but the medium-term comparison is noticeably steadier. In our view, the fund’s longer-horizon pattern looks more constructive than the latest 12-month period.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	6.71%
HDFC Bank Ltd.	Bank	3.91%
Reliance Industries Ltd.	Crude Oil	3.82%
TREPS	Cash & Cash Equivalents and Net Assets	3.58%
State Bank of India	Bank	3.07%
Axis Bank Ltd.	Bank	3.06%
NTPC Ltd.	Power	2.95%
Shriram Finance Ltd.	Finance	2.92%
Bharti Airtel Ltd.	Telecom	2.91%
Maruti Suzuki India Ltd.	Automobile & Ancillaries	2.44%

The top 10 holdings account for approximately 35.37% of the portfolio.

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

The largest holding, ICICI Bank Ltd., stands at 6.71%, which is meaningful but not dominant on its own. The weight then steps down fairly quickly, with HDFC Bank Ltd. at 3.91% and the tenth holding at 2.44%, so the visible holdings are spread across several mid-sized positions rather than concentrated in one outsized bet.

That said, the top 10 still account for 35.37% of the portfolio, and the fund discloses 63 holdings overall. This points to a structure where the largest names may have the greatest influence, but the exposure is not limited to just a handful of stocks. The combination of banks, financials, telecom, power and consumer-linked names suggests a diversified equity basket within a value framework, which could help balance single-stock risk while still leaving room for stock selection to matter.

Source data date: as of 15 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can stay invested for at least a medium to long horizon. The 1-year weakness versus the stronger 3-year and 5-year record suggests that patience matters here, while the benchmark comparison shows the fund can lag in rough periods yet still preserve more value than the index.

The main trade-off is that the strategy may deliver uneven near-term outcomes in exchange for the chance of better long-run compounding. Investors who want steadier short-term returns may find the journey uncomfortable, while those who can accept swings and are looking for a value-tilted portfolio with a broad set of holdings may find the profile more suitable.

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 Value Fund Direct Growth Plan?

The current NAV is ₹29.87 as of 15 September 2026.

How has the fund performed over 1 year, 3 years and 5 years?

Its 1-year return is -0.93%, its 3-year return is 10.75%, and its 5-year return is 11.99%. The pattern shows a weak latest year but a stronger medium- to long-term track record.

How does it compare with the benchmark?

It has outpaced the benchmark over 3 years and 5 years, while also falling less than the benchmark over the 1-year period. The benchmark comparison therefore looks favourable over longer horizons, even though the recent year was negative.

Which peer fund has the strongest 1-year return in this set?

Quant Value Fund Direct Growth Plan shows the strongest 1-year return in this peer set at 19.58%. LIC MF Value Fund Direct Growth Plan also posts a strong 1-year figure at 17.5%.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?

The fund is managed by Vinod Malviya and Gaurav Chopra. The exit load is 1% on or before 15D, and nil after 15D.

Bottom line

Union Value Fund Direct Growth Plan looks like a fund whose recent return profile has been softer than its medium-term record, but the 3-year and 5-year numbers still point to a strategy that has worked better over time than in the latest year. Against the benchmark, the longer-run comparison is stronger, while the short-term comparison is more mixed. The portfolio is led by banks and other sizable equity positions, so the outcome is likely to remain sensitive to stock selection and market cycles. It suits investors who can accept High Risk volatility in return for longer-horizon participation.

Published on 16 September 2026 at 9:27 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.