 "Mutual fund")
After nearly two years of search, Union Mutual Fund (formerly Union KBC) has found a new partner in Japan's Dai-ichi Life Holdings.
Union MF's parent Union Bank of India has entered into investment and subscription agreements with the global life insurer for their investments of Rs 133.43 crore in its subsidiary fund house. This investment will be through compulsorily convertible preference shares.
In a statement, Union Bank, said, "Considering the present equity investment of Union Bank of India in Union Asset Management Company, the investment of Dai-ichi Life would be 39.62 per cent on fully diluted basis post conversion to equity." The
