Joint Venture – Union Asset Management Company.

Union Mutual Fund (Formally Union KBC Mutual Fund) is sponsored by Union Bank of India. The Mutual Fund was originally co-sponsored by Union Bank of India and KBC Participations Renta, a 100% subsidiary of KBC Asset Management NV, Belgium.

Union Bank of India acquired the entire shareholding held by KBC Participations Renta in Union Asset Management Company Private Limited (Formally Union KBC Asset Management Company Private Limited) and Union Trustee Company Private Limited (Formally Union KBC Trustee Company Private Limited), which constituted 49% (forty nine per cent) of: (a) the paid-up equity share capital of Union Asset Management Company Private Limited; and (b) the paid-up equity share capital of Union Trustee Company Private Limited. The Board of Directors of Union Asset Management Company Private Limited and Union Trustee Company Private Limited approved the aforesaid transfer of shares on September 20, 2016. Consequently, Union Bank of India has become the sole Sponsor of Union Mutual Fund.