*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

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1 Scan QR Code with your Mobile and learn more. November 2018 If you don t have the QR reader, simply download one of the many free applications available Funds Inscope (An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit) I want to PAY TAX. I want to SAVE TAX. We understand that as a responsible citizen you wish to pay tax as well as see your investments grow. Hence, we bring to you Union Tax Saver Scheme, an ideal investment scheme that enables you to pay tax efficiently by availing tax benefits and also grow your investments. With a lock in period of 3 years from the date of allotment, this open-ended equity linked savings scheme gives you tax benefits* of upto ` 46,800 under section 80C of the Income Tax Act, 1961 by investing ` 1,50,000 in the Scheme. * Tax benefit of ` 46,800 is calculated on investment of ` 1,50,000 and it is assumed that investor falls in the top income tax slab of 30% plus applicable cess of 4%. Tax savings may vary depending on applicable tax slabs and investments under section 80C of the Income Tax Act, This product is suitable for investors who are seeking*: Long Term Capital Appreciation along with Tax savings u/s 80C of Income Tax Act. Investment predominantly in Equity and Equity related portfolio Investors understand that their principal will be at moderately high risk MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

2 INDEX Page No. MUTUAL FUND RELATED TERMS MARKET REVIEW EQUITY SCHEMES Union Largecap Fund Union Multi Cap Fund (formerly Union Equity Fund) Union Small Cap Fund Union Tax Saver Scheme HYBRID SCHEMES Union Balanced Advantage Fund Union Equity Savings Fund Union Asset Allocation Fund DEBT & INCOME SCHEMES Union Dynamic Bond Fund Union Liquid Fund Union Short Term Fund Union Corporate Bond Fund FUNDS AT A GLANCE PERFORMANCE SIP PERFORMANCE DIVIDEND HISTORY & RISK FACTORS, STATUTORY DETAILS AND DISCLAIMERS OUR PRESENCE Page 2

3 Mutual Fund related terms An employee of the asset management company such as a mutual fund or life insurer, who manages investments of the scheme. He is usually part of a larger team of fund managers and research analysts. Application Amount for Fresh Subscription This is the minimum investment amount for a new investor in a mutual fund scheme. Additional Amount This is the minimum investment amount for an existing investor in a mutual fund scheme. Yield to Maturity The Yield to Maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond's current market price, par value, coupon interest rate and time to maturity. SIP SIP or Systematic Investment Plan works on the principle of making periodic investments of a fixed sum. It works similar to a Recurring Bank Deposit. For instance, an investor may opt for an SIP that invests ` 500 every 15th of the month in an equity fund for a period of three years. NAV The NAV or the net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which the investor enters or exits the mutual fund. Benchmark A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmarks include the Nifty, Sensex, BSE200, BSE500, 10-Year Gsec. Entry Load A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor/agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is ` 100 and the entry load is 1%, the investor will enter the fund at ` 101. Exit Load Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is reduced from the prevailing NAV at the time of redemption. The investor will receive redemption proceeds at net value of NAV less Exit Load. For instance, if the NAV is ` 100 and the exit load is 1%, the investor will receive ` 99. Modified Duration Modified duration is the price sensitivity and the percentage change in price for a unit change in yield. Macaulay Duration The Macaulay duration is the weighted average term to maturity of the cash flows from a bond. The weight of each cash flow is determined by dividing the present value of the cash flow by the price. Standard Deviation Standard deviation is a statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, its means its range of performance is wide, implying greater volatility. Sharpe Ratio The Sharpe Ratio, named after its founder, the Nobel Laureate William Sharpe, is a measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security's price will be more volatile than the market. AUM AUM or Assets Under Management refers to the recent / updated cumulative market value of investments managed by a mutual fund or any investment firm. Holdings The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of Scheme The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have subcategories. Rating Profile Mutual funds invest in securities after evaluating their creditworthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their ratings becomes the rating profile of the fund. Typically, this is a feature of debt funds / investorcareunionmf.com Page 3

4 Market Review Indian Equity Markets (Nifty 500 Index) gained 4.06% in the month of November 2018, with Midcaps (Nifty Midcap 100 index, 1.83%) and Smallcaps (Nifty Smallcap 100 Index, 2.53%) underperforming the Largecaps (Nifty 50 Index, 4.72%). Amongst sectors, Market gains were led by Banks (Nifty Bank Index) and FMCG (Nifty FMCG Index) with 6.8% and 5.53% returns, respectively, while Pharma (Nifty Pharma I n d e x ) a n d M e t a l s ( N i f t y M e t a l I n d e x ) underperformed the market with -4.94% and -4.04% returns, respectively. Government revised the gross domestic product (GDP) growth rates for fiscals using new back series data, thereby sharply reducing economic growth in earlier years. On the Global front, US markets gained 1.79% (S&P 500 Index) in November 2018, while US 10 year yield declined to 2.99%, from 3.14%. Crude Oil prices (Brent) declined by 22.21%, to USD/b. US Federal Reserve Chairman Jerome Powell commented that interest rates were close to neutral, indicating the beginning of an end to monetary tightening. India s retail inflation fell to 3.31% in October 2018 against 3.7% a month ago, while inflation based on wholesale prices rose to 5.28% in October 2018 compared to 5.13% in September India s industrial production slowed to 4.5% in September 2018 from a revised 4.67% in the previous month. G- Sec yield declined to 7.61%, from 7.85%, during the month. India's gross domestic product (GDP) moderated to 7.1% in the July-September (Q ) compared to 8.2% in the previous quarter (Q ). India's fiscal deficit for April-October 2018 printed at ` 6.49 lakh crore or 103.9% of the budgeted target for the current fiscal. Indian Rupee appreciated by 5.9% from to per US dollar, during the month. Nifty 50 currently trades at x trailing 12 months earnings which is higher than long period averages. We expect the market returns to be driven mainly by earnings growth in the medium term. According to us, the driver of earnings growth can be a) weaker base due to Demonetisation in FY17 and GST Implementation in FY18 and b) cyclical uptick in economy, coupled with improved capacity utilization, which can result in earnings growth getting a boost from operating leverage. However, the key risks to valuations are a) slowing global growth, b) higher fiscal and current account deficit, c) political instability due to results of upcoming general elections and d) an increase in cost of capital due to unwinding of monetary stimulus by developed world central banks. Performance of various indices as of 30th November 2018 Index 1 Month 3 Month 6 Month 1 Year Nifty % -6.88% 1.31% 6.36% Nifty % -8.84% -2.21% -0.50% NIFTY Midcap % % -7.40% % Nifty Next % % -5.63% -7.30% NIFTY Smallcap % % % % Current Statistics and Fixed Income Market Indicators Indicator Latest Previous Last Year Call (Wtd Avg Rate) USD/INR GBP/INR EUR/INR JPY/INR Brent Crude $/barrel Year Benchmark Indian G-sec Foreign Exchange Reserves ($ Billion) CPI WPI Monthly FPI/FII Net Equity 6,914 (28,921) 19,728 Investments (` Crs) IIP GDP GDP data is quarterly available and data for other indicators are on monthly basis. Above Data is as available on 30th November 2018 (Source: Bloomberg, RBI, MOSPI*) *Ministry of Statistics and Programme Implementations Disclaimer: Any information contained herein does not constitute an advice or an offer to sell or a solicitation to buy any mutual fund units/securities. The above information alone is not sufficient and should not be used for the development or implementation of an investment strategy. The recipients of this material should rely on their investigations and take their own professional advice. The Sponsors/ the AMC/ the Trustee Company/ their associates/ any person connected with it, do not accept any liability arising from the use of this information and disclaim all liabilities, losses and damages arising out of the use of this information. Page 4

5 Media Presence Union Mutual Fund in Media 1) This year has been a roller coaster ride for the markets although in the past few weeks it has started looking a lot better. How do you see the new calendar year panning out for the markets? V o l a t i l i t y i s a n i n h e r e n t characteristic of Equity as an asset class. Hence, we expect the m a r k e t s t o r e m a i n v o l a t i l e responding to incoming events and data. Thus, while headwinds related to rising crude prices have abated, economy is expected to witness some softness in the near t e r m d u e t o s l o w d o w n i n government spending, slowdown in consumption due to impact of reduced credit flow from NBFC. Also, outcome of state and central elections is likely to add to the expected volatility. Over the medium term, we expect our economy to bounce back led by a cyclical improvement in investment demand and rebound in consumption demand. 2) We will be entering the general elections year? What is the sense you are getting from the market? Do you think participants have priced in a worst-case outcome and if that is not the case will we see a big rally? Markets respond with significant volatility to events such as outcomes of election, budget announcements, etc. However, over a medium to long term, markets have tracked the change in intrinsic values. Hence, we do not try to forecast outcomes of such an event but invest all our research effort behind understanding factors driving changes in intrinsic values like RoE, and Cost of Capital. Also, we do not position our portfolios based on outcomes to any specific events. 3) Indian macro scenario has suddenly changed. Crude prices are coming down. The rupee has appreciated almost 4 percent and bond yields are also down by 40 bps. How do you read the change in macroweather suddenly? Decline in crude oil prices is a significant relief. It could have posed meaningful macro threat to our economic growth had it remained at elevated levels. This decline also provides wriggle room to the government to manage its budget while continuing to spend for development. 4) Which are the sectors that you are u p b e a t o n a n d w h y a n d underweight on and why? We are overweight IT (growth at reasonable price) and Energy (attractive valuations) sectors and underweight Financials (growth a n d m a r g i n h e a d w i n d s, unattractive valuations) and Materials (dearth of quality businesses) sectors. 5) Mid-cap stocks have been beaten down quite a lot in the last few m o n t h s? W h a t i s y o u r assessment on mid caps? While Nifty Midcap Index is down 17.3% on a YTD basis, it has outperformed its large cap counterpart (Nifty Index) by 6.2% CAGR over last 5 years. Though midcaps have corrected from peak, the aggregate valuations for the set are not very attractive. However, b o t t o m u p s t o c k p i c k i n g opportunities continue to exist in the midcap space due to diversity and quantum of stocks available in the category. 6) What are the cash levels in your fund? We construct portfolios which are true to mandate. Thus, only such funds which are supposed to utilize asset allocation lever, shift allocation from equity to fixed income and vice-versa based on our internal valuation models. No other equity funds from our fund house takes any cash calls. Disclaimer: The views expressed or statements made in this document are purely the views of the author and do not necessarily represent the views of either Union Asset Management Company Private Limited or its affiliates. Published on Moneycontrol Website on th 28 November, 2018 MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY. Page 5

6 Union LARGECAP FUND (formerly Union Focussed Largecap Fund) (Large Cap Fund - An open ended equity scheme predominantly $$$ investing in large cap stocks) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Long Term Capital Appreciation Investment predominantly in a portfolio of select equity and equity linked securities of large cap companies. Investors understand that their principal will be at moderately high risk Fund Details Investment Objective The investment objective of the Scheme is to seek to generate capital appreciation by investing in a portfolio of select equity and equity linked securities of large cap companies. However, there can be no assurance that the Investment Objective of the scheme will be achieved. Anshul Mishra Around 12 years of experience in Fund Management & Banking Industry. Managing this scheme since October 05, Indicative Investment Horizon Long Term Date of allotment 11 May 2017 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore ^^ Benchmark Index S&P BSE 100 Index ^^(For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 2.18% Regular Plan : 2.67% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: 1 % if units are redeemed / switched out within 1 year from the date of allotment. Nil thereafter. NAV ` per unit (As on Nov 30, 2018) Regular Plan - ` Regular Plan - Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/Issuer % to Net Assets Equity Shares BANKS HDFC Bank Ltd Axis Bank Ltd ICICI Bank Ltd Kotak Mahindra Bank Ltd IndusInd Bank Ltd SOFTWARE Infosys Ltd Tata Consultancy Services Ltd HCL Technologies Ltd Oracle Financial Services Software Ltd CONSUMER NON DURABLES ITC Ltd Hindustan Unilever Ltd Godrej Consumer Products Ltd Nestle India Ltd FINANCE Housing Development Finance Corp Ltd Bajaj Finserv Ltd Bajaj Finance Ltd PETROLEUM PRODUCTS 8.91 Reliance Industries Ltd AUTO 6.38 Maruti Suzuki India Ltd Mahindra & Mahindra Ltd PHARMACEUTICALS 6.03 Sun Pharmaceutical Industries Ltd Cipla Ltd Lupin Ltd CONSTRUCTION PROJECT 4.55 Larsen & Toubro Ltd MEDIA & ENTERTAINMENT 1.92 Zee Entertainment Enterprises Ltd CONSUMER DURABLES 1.42 Havells India Ltd TRANSPORTATION 1.08 Container Corporation of India Ltd TELECOM - SERVICES 0.94 Bharti Airtel Ltd FERROUS METALS 0.74 JSW Steel Ltd GAS 0.64 GAIL (India) Ltd AUTO ANCILLARIES 0.64 MRF Ltd TREASURY BILLS 0.34 Sovereign DAY T-BILL 0.34 Triparty Repo, Cash, Cash Equivalents 5.07 & Net Current Assets Grand Total Industry Classification Banks 21.07% Software 17.19% Consumer Non Durables 13.08% Finance % Petroleum Products 8.91% Auto 6.38% Pharmaceuticals 6.03% Construction Project 4.55% Media & Entertainment 1.92% Consumer Durables 1.42% Transportation 1.08% Telecom - Services 0.94% Ferrous Metals 0.74% Auto Ancillaries 0.64% Gas 0.64% Market Capitalisation as a % of net assets Large Cap: 94.59% Indicates Top 10 Holdings $$$ Pursuant to Notice cum Addendum dated January 23, 2018 issued by Union Asset Management Company Private Limited, Union Largecap Fund (formerly Union Focussed Largecap Fund) has undergone change in fundamental attributes with effect from March 01, For risk factors, statutory details and disclaimers please refer page no. 22 Page 6

7 Union MULTI CAP FUND** (formerly Union Equity Fund) (Multi Cap Fund - An open ended equity scheme investing across large cap, mid cap, small cap stocks) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Long Term Capital Appreciation Investment predominantly in Equity and Equity related portfolio Investors understand that their principal will be at moderately high risk Investment Objective To achieve long-term capital appreciation by investing substantially in a portfolio consisting of equity and equity related securities. However, there can be no assurance that the investment objective of the scheme will be achieved. Co-s Vinay Paharia Over 15 years of experience in Fund Management & Equities. Managing this Scheme from 2nd April Shivraj Gupta Over 8 years of experience in the capital markets. Managing this Scheme since June 28, Indicative Investment Horizon Long Term Date of allotment 10 June 2011 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore ^^ Benchmark Index S&P BSE 500 Index ^^(For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 2.04% Other than Direct Plan : 2.64% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: Fund Details 1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units. NAV ` per unit (As on Nov 30, 2018) ` Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/Issuer % to Net Assets Equity Shares BANKS HDFC Bank Ltd ICICI Bank Ltd Kotak Mahindra Bank Ltd Axis Bank Ltd State Bank of India 1.00 The Jammu & Kashmir Bank Ltd SOFTWARE Tata Consultancy Services Ltd Infosys Ltd Tata Elxsi Ltd Oracle Financial Services Software Ltd FINANCE 8.95 Housing Development Finance Corp Ltd Bajaj Finance Ltd Reliance Nippon Life Asset Mgmt Ltd CONSUMER NON DURABLES 8.89 ITC Ltd Nestle India Ltd Hindustan Unilever Ltd AUTO 8.87 Maruti Suzuki India Ltd Bajaj Auto Ltd Mahindra & Mahindra Ltd Tata Motors Ltd PETROLEUM PRODUCTS 8.79 Reliance Industries Ltd Indian Oil Corporation Ltd PHARMACEUTICALS 5.92 Sun Pharmaceutical Industries Ltd Lupin Ltd Torrent Pharmaceuticals Ltd Abbott India Ltd Cipla Ltd CONSTRUCTION PROJECT 5.28 Larsen & Toubro Ltd Ircon International Ltd GAS 2.96 GAIL (India) Ltd Mahanagar Gas Ltd Petronet LNG Ltd MEDIA & ENTERTAINMENT 2.04 Zee Entertainment Enterprises Ltd INDUSTRIAL CAPITAL GOODS 1.84 ABB India Ltd Cochin Shipyard Ltd CHEMICALS 1.55 Tata Chemicals Ltd TRANSPORTATION 1.50 Container Corporation of India Ltd Mahindra Logistics Ltd TELECOM - SERVICES 1.47 Bharti Airtel Ltd MINERALS/MINING 1.44 Coal India Ltd NMDC Ltd POWER 1.18 Power Grid Corporation of India Ltd FERROUS METALS 1.13 JSW Steel Ltd Tata Metaliks Ltd CEMENT 1.02 The Ramco Cements Ltd HOTELS, RESORTS AND OTHER 0.75 RECREATIONAL ACTIVITIES Wonderla Holidays Ltd AUTO ANCILLARIES 0.47 Lumax Industries Ltd TREASURY BILLS 0.38 SOVEREIGN DAY T-BILL 0.38 Triparty Repo, Cash, Cash Equivalents & Net Current Assets 3.35 Grand Total Indicates Top 10 Holdings Quantitative Indicators - Option Std. Deviation 14.38% Sharpe Ratio 0.06 Beta 0.92 Turnover Ratio 0.96 times Risk Free Rate based on the overnight Mumbai Inter-Bank Offer Rate (MIBOR) as on November 30, 2018: 6.55%. $$ er of sales or purchases divided by average AUM for last rolling 12 months. Industry Classification Banks Software Finance Consumer Non Durables Auto Petroleum Products Pharmaceuticals Construction Project Gas Media & Entertainment Industrial Capital Goods Chemicals Transportation Telecom - Services Minerals/mining Power Ferrous Metals Cement Hotels, Resorts And Other Recreational Activities Auto Ancillaries 2.04% 1.84% 1.55% 1.50% 1.47% 1.44% 1.18% 1.13% 1.02% 0.75% 0.47% 5.28% 2.96% 5.92% 8.95% 8.89% 8.87% 8.79% 12.80% 19.42% Market Capitalisation as a % of net assets Large Cap : 84.20% Mid Cap : 6.36% Small Cap : 5.71% ** The name of the Scheme has changed from Union Equity Fund to Union Multi Cap Fund w.e.f. October 29, $$ For risk factors, statutory details and disclaimers please refer page no. 22 Page 7

8 Union SMALL CAP FUND (formerly Union Small and Midcap Fund) (Small Cap Fund - An Open Ended Equity Scheme predominantly investing in Small Cap stocks) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Long Term Capital Appreciation Investment predominantly in Equity and Equity related portfolio of small cap companies Investors understand that their principal will be at moderately high risk Fund Details Investment Objective The investment objective of the scheme is to achieve long term capital appreciation by investing in a portfolio consisting of equity a n d e q u i t y r e l a t e d s e c u r i t i e s, predominantly of small cap companies. However, there is no assurance that the Investment Objective of the scheme will be achieved. Co-s Vinay Paharia Over 15 years of experience in Fund Management & Equities. Managing this Scheme from 2nd April Hardick Bora Over 10 years of experience in the financial services sector. Managing this Scheme since October 25, Indicative Investment Horizon Long Term Date of allotment 10 June 2014 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore Benchmark Index Nifty Smallcap 100 Index (formerly Nifty Free Float Smallcap 100 Index) (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 2.00% Regular Plan : 2. 59% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: 1 % if units are redeemed/ switched out within 1 year from the date of allotment. Nil thereafter. NAV ` per unit (As on Nov 30, 2018) Regular Plan - ` Regular Plan - Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/Issuer % to Net Assets EQUITY SHARES FINANCE Indian Energy Exchange Ltd Reliance Nippon Life Asset Mgmt Ltd Multi Commodity Exchange of India Ltd Cholamandalam Investment & Fin Co Ltd ICICI Securities Ltd Equitas Holdings Ltd INDUSTRIAL PRODUCTS Carborundum Universal Ltd Swaraj Engines Ltd Vesuvius India Ltd Supreme Industries Ltd Finolex Cables Ltd Finolex Industries Ltd PHARMACEUTICALS 8.36 Alembic Pharmaceuticals Ltd Abbott India Ltd Ajanta Pharma Ltd CONSUMER NON DURABLES 7.16 Heritage Foods Ltd Avanti Feeds Ltd Bajaj Corp Ltd CHEMICALS 6.26 Tata Chemicals Ltd Fine Organic Industries Ltd CONSUMER DURABLES 6.15 Orient Electric Ltd Crompton Greaves Consumer Electrical Ltd 1.70 Relaxo Footwears Ltd CONSTRUCTION PROJECT 5.37 Rites Ltd Ircon International Ltd SOFTWARE 4.96 Tata Elxsi Ltd Accelya Kale Solutions Ltd BANKS 4.63 City Union Bank Ltd The Jammu & Kashmir Bank Ltd AUTO ANCILLARIES 3.78 Lumax Industries Ltd Sundram Fasteners Ltd HOTELS, RESORTS AND OTHER 3.30 RECREATIONAL ACTIVITIES Wonderla Holidays Ltd FERROUS METALS 3.22 Tata Metaliks Ltd. 3.22% GAS 3.19 Mahanagar Gas Ltd COMMERCIAL SERVICES 3.17 NESCO Ltd TRANSPORTATION 3.16 Mahindra Logistics Ltd INDUSTRIAL CAPITAL GOODS 2.87 Cochin Shipyard Ltd PESTICIDES 2.83 Dhanuka Agritech Ltd CONSTRUCTION 2.38 Knr Constructions Ltd MEDIA & ENTERTAINMENT 1.81 TV Today Network Ltd TREASURY BILLS 0.44 SOVEREIGN DAY T-BILL 0.44 Triparty Repo, Cash, Cash Equivalents & 3.22 Net Current Assets Grand Total Quantitative Indicators - Option Std. Deviation 18.74% Sharpe Ratio Beta 0.70 Turnover Ratio 0.95 times Risk Free Rate based on the overnight Mumbai Inter-Bank Offer Rate (MIBOR) as on November 30, 2018: 6.55%. $$$ er of sales or purchases divided by average AUM for last rolling 12 months. Industry Classification Finance Industrial Products Pharmaceuticals Consumer Non Durables Chemicals Consumer Durables Construction Project Software Banks Auto Ancillaries Hotels, Resorts And Other Recreational Activities Ferrous Metals Gas Commercial Services Transportation Industrial Capital Goods Pesticides Construction Media & Entertainment 3.30% 3.22% 3.19% 3.17% 3.16% 2.87% 2.83% 2.38% 1.81% 5.37% 4.96% 4.63% 3.78% 7.16% 6.26% 6.15% 8.36% 12.44% 11.30% Market Capitalisation as a % of net assets Small Cap : 71.03% Mid Cap : 25.31% $$$ Indicates Top 10 Holdings Pursuant to Notice cum Addendum dated January 23, 2018 issued by Union Asset Management Company Private Limited, Union Small Cap Fund (formerly Union Small and Midcap Fund) has undergone change in fundamental attributes with effect from March 01, For risk factors, statutory details and disclaimers please refer page no. 22 Page 8

9 Union TAX SAVER SCHEME (An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit.) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Long Term Capital Appreciation along with Tax savings u/s 80C of Income Tax Act. Investment predominantly in Equity and Equity related portfolio Investors understand that their principal will be at moderately high risk Fund Details Investment Objective To generate income and long-term capital appreciation by investing substantially in a portfolio consisting of equity and equity related securities. However, there can be no assurance that the investment objective of the scheme will be achieved. Anshul Mishra Around 12 years of experience in Fund Management & Banking Industry. Managing this scheme since June 28, Indicative Investment Horizon Long Term Date of allotment 23 December 2011 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore ^^ Benchmark Index S&P BSE 500 Index ^^(For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 1. 97% Other than Direct Plan : 2. 77% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: Nil NAV ` per unit (As on Nov 30, 2018) ` Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/Issuer % to Net Assets EQUITY SHARES BANKS HDFC Bank Ltd Axis Bank Ltd Kotak Mahindra Bank Ltd ICICI Bank Ltd IndusInd Bank Ltd City Union Bank Ltd SOFTWARE Infosys Ltd Tata Consultancy Services Ltd HCL Technologies Ltd Oracle Financial Services Software Ltd Tata Elxsi Ltd CONSUMER NON DURABLES ITC Ltd Hindustan Unilever Ltd Asian Paints Ltd Nestle India Ltd Godrej Consumer Products Ltd Heritage Foods Ltd FINANCE 9.80 Housing Development Finance Corp Ltd Bajaj Finserv Ltd Bajaj Finance Ltd Indian Energy Exchange Ltd Reliance Nippon Life Asset Mgmt Ltd AUTO 7.89 Maruti Suzuki India Ltd Mahindra & Mahindra Ltd Tata Motors Ltd PETROLEUM PRODUCTS 7.26 Reliance Industries Ltd PHARMACEUTICALS 6.12 Torrent Pharmaceuticals Ltd Lupin Ltd Sun Pharmaceutical Industries Ltd Alembic Pharmaceuticals Ltd Cipla Ltd Abbott India Ltd CONSTRUCTION PROJECT 3.95 Larsen & Toubro Ltd Rites Ltd CHEMICALS 2.63 Tata Chemicals Ltd Fine Organic Industries Ltd FERROUS METALS 2.34 JSW Steel Ltd Tata Metaliks Ltd GAS 1.96 GAIL (India) Ltd Mahanagar Gas Ltd TRANSPORTATION 1.83 Container Corporation of India Ltd Mahindra Logistics Ltd MEDIA & ENTERTAINMENT 1.50 Zee Entertainment Enterprises Ltd CEMENT 1.42 The Ramco Cements Ltd AUTO ANCILLARIES 1.03 MRF Ltd CONSUMER DURABLES 0.95 Crompton Greaves Consumer Electrical Ltd 0.95 INDUSTRIAL CAPITAL GOODS 0.93 Cochin Shipyard Ltd TELECOM - SERVICES 0.65 Bharti Airtel Ltd INDUSTRIAL PRODUCTS 0.20 Carborundum Universal Ltd TREASURY BILLS 0.38 SOVEREIGN DAY T-BILL 0.38 Triparty Repo, Cash, Cash 4.27 Equivalents & Net Current Assets Grand Total Indicates Top 10 Holdings Quantitative Indicators - Option Std. Deviation 14.77% Sharpe Ratio Beta 0.95 Turnover Ratio 1.04 times Risk Free Rate based on the overnight Mumbai Inter-Bank Offer Rate (MIBOR) as on November 30, 2018: 6.55%. $$ er of sales or purchases divided by average AUM for last rolling 12 months. Industry Classification Banks Software Consumer Non Durables Finance Auto Petroleum Products Pharmaceuticals Construction Project Chemicals Ferrous Metals Gas Transportation Media & Entertainment Cement Auto Ancillaries Consumer Durables Industrial Capital Goods Telecom - Services Industrial Products 2.63% 2.34% 1.96% 1.83% 1.50% 1.42% 1.03% 0.95% 0.93% 0.65% 0.20% 6.12% 3.95% 7.89% 7.26% 12.05% 11.38% 9.80% 21.46% Market Capitalisation as a % of net assets Large Cap : 78.72% Small Cap : 8.82% Mid Cap : 7.81% $$ For risk factors, statutory details and disclaimers please refer page no. 22 Page 9

10 Union BALANCED ADVANTAGE FUND (formerly Union Prudence Fund) (An Open-ended Dynamic Asset Allocation Fund) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Long Term Capital Appreciation Investment predominantly in a portfolio of equity and equity linked securities and the rest in debt and money market instruments. Investors understand that their principal will be at moderately high risk Fund Details Investment Objective The investment objective of the Scheme is to achieve long term capital appreciation and generate income through an equity portfolio by using long equities, equity derivatives and arbitrage opportunities available. However, there is no assurance that the Investment Objective of the scheme will be achieved. Co-fund Managers Vinay Paharia Over 15 years of experience in Fund Management & Equities. Managing this Scheme since June 28, Parijat Agrawal Over 22 years of experience in Fund Management. Managing this scheme since inception. Hardick Bora Over 10 years of experience in the financial services sector. Managing this Scheme since June 28, Indicative Investment Horizon Long Term Date of allotment 29 December 2017 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore Benchmark Index 65% S&P BSE 50 Index (+) 35% CRISIL Composite Bond Fund Index (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 2.26% Regular Plan : 2.65% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: 20% of the units allotted may be redeemed without any exit load, on or before completion of 18 months from the date of allotment of units. Any redemption in excess of such limit in the first 18 months from the date of allotment shall be subject to the following exit load. Redemption of units would be done on First in First out Basis (FIFO): 1% if redeemed or switched out on or before completion of 18 months from the date of allotment of units Nil, if redeemed or switched out after completion of 18 months from the date of allotment of units. NAV ` per unit (As on Nov 30, 2018) Regular Plan - ` Regular Plan - Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/ % to % Derivatives % to Net Issuer/Rating Net to Net Assets Assets Assets (unhedged) (hedged) BANKS HDFC Bank Ltd ICICI Bank Ltd Kotak Mahindra Bank Ltd Axis Bank Ltd State Bank of India The South Indian Bank Ltd SOFTWARE Tata Consultancy Services Ltd Infosys Ltd Oracle Financial Services Software Ltd Tech Mahindra Ltd Hexaware Technologies Ltd KPIT Technologies Ltd CONSUMER NON DURABLES ITC Ltd Hindustan Unilever Ltd Nestle India Ltd FINANCE Housing Development Finance Corp Ltd Bajaj Finance Ltd Multi Commodity Exchange of India Ltd IDFC Ltd PETROLEUM PRODUCTS Reliance Industries Ltd Indian Oil Corporation Ltd AUTO Maruti Suzuki India Ltd Bajaj Auto Ltd Mahindra & Mahindra Ltd Tata Motors Ltd PHARMACEUTICALS Torrent Pharmaceuticals Ltd Sun Pharmaceutical Industries Ltd Lupin Ltd Abbott India Ltd Cipla Ltd Biocon Ltd Wockhardt Ltd Aurobindo Pharma Ltd CONSTRUCTION PROJECT Larsen & Toubro Ltd MEDIA & ENTERTAINMENT Zee Entertainment Enterprises Ltd TV18 Broadcast Ltd POWER Power Grid Corporation of India Ltd Adani Power Ltd GAS Petronet LNG Ltd GAIL (India) Ltd Mahanagar Gas Ltd MINERALS/MINING Coal India Ltd CEMENT The Ramco Cements Ltd TRANSPORTATION Container Corporation of India Ltd TELECOM - SERVICES Bharti Airtel Ltd CHEMICALS Tata Chemicals Ltd FERROUS METALS JSW Steel Ltd Tata Steel Ltd Jindal Steel & Power Ltd TRADING Adani Enterprises Ltd CONSUMER DURABLES Bata India Ltd Titan Company Ltd Equity & Equity Related Non Convertible Debentures AAA National ways Authority of India 5.35 LIC Housing Finance Ltd Housing Development Finance Corp Ltd Reliance Industries Ltd National Bank for Agri & Rural Develop 0.92 Margin Fixed Deposits 9.35 Unrated-Margin FD 9.35 HDFC Bank Ltd TREASURY BILLS 0.42 SOVEREIGN DAY T-BILL 0.42 Triparty Repo, Cash, Cash Equivalents 3.28 & Net Current Assets Grand Total Indicates Top 10 Holdings Industry Classification (as % of unhedged equities) Banks Software 14.46% Consumer Non Durables 10.92% Finance 10.62% Petroleum Products 10.09% Auto 9.50% Pharmaceuticals 6.44% Construction Project 4.32% Media & Entertainment 1.77% Power 1.72% Gas 1.45% Minerals/mining 1.37% Transportation 1.07% Cement 1.07% Telecom - Services 1.02% Chemicals 0.43% Ferrous Metals 0.38% Market Capitalisation of unhedged equities portion Quantitative Indicators (Fixed Income Portion of ) Average Maturity 1.52 Years Modified Duration 1.28 Years Large Cap : 95.65% Mid Cap : 4.35% Classification by Asset Class Hedged Equity : 29.90% Unhedged Equity : 37.28% Fixed Income : 29.54% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 3.28% Classification by Rating Class as a % of net assets (Fixed Income Portion of ) AAA : 19.77% Unrated-Margin - FD : 9.35% Sovereign : 0.42% Yield 7.89% 23.42% For risk factors, statutory details and disclaimers please refer page no. 22 Page 10

11 Union EQUITY SAVINGS FUND (An Open Ended Scheme investing in Equity, Arbitrage and Debt) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Long Term Capital Appreciation Investment predominantly in a portfolio of equity and equity related securities Investors understand that their principal will be at moderately high risk Investment Objective To seek capital appreciation and/or to generate consistent returns by actively investing in a combination of diversified equity and equity related instruments, arbitrage and derivative strategies and exposure in debt and money market instruments. However, there is no assurance that the Investment Objective of the scheme will be achieved. Co-s Vinay Paharia Over 15 years of experience in Fund Management & Equities. Managing this scheme since inception. Parijat Agrawal Over 22 years of experience in Fund Management. Managing this scheme since inception. Hardick Bora Over 10 years of experience in the financial services sector. Managing this scheme since inception. Indicative Investment Horizon Long Term Date of allotment 9 August 2018 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore Benchmark Index CRISIL Short Term Debt Hybrid Fund Index. (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 1.34% Other than Direct Plan : 2.13% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: Fund Details 1% if units are redeemed/switched out within 1 year from the date of allotment, nil thereafter. NAV ` per unit (As on Nov 30, 2018) Regular Plan - ` Regular Plan - Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/ % to % Derivatives % to Net Issuer/Rating Net to Net Assets Assets Assets (unhedged) (hedged) BANKS HDFC Bank Ltd ICICI Bank Ltd Axis Bank Ltd Kotak Mahindra Bank Ltd State Bank of India SOFTWARE Tata Consultancy Services Ltd Infosys Ltd Oracle Financial Services Software Ltd Hexaware Technologies Ltd KPIT Technologies Ltd CONSUMER NON DURABLES ITC Ltd Hindustan Unilever Ltd Nestle India Ltd FINANCE Housing Development Finance Corp Ltd Bajaj Finance Ltd IDFC Ltd Multi Commodity Exchange of India Ltd PETROLEUM PRODUCTS Reliance Industries Ltd Indian Oil Corporation Ltd AUTO Maruti Suzuki India Ltd Bajaj Auto Ltd Mahindra & Mahindra Ltd Tata Motors Ltd PHARMACEUTICALS Torrent Pharmaceuticals Ltd Sun Pharmaceutical Industries Ltd Lupin Ltd Abbott India Ltd Cipla Ltd Aurobindo Pharma Ltd Biocon Ltd Wockhardt Ltd CONSTRUCTION PROJECT Larsen & Toubro Ltd POWER Power Grid Corporation of India Ltd Adani Power Ltd GAS Petronet LNG Ltd GAIL (India) Ltd Mahanagar Gas Ltd MINERALS/MINING Coal India Ltd MEDIA & ENTERTAINMENT Zee Entertainment Enterprises Ltd TV18 Broadcast Ltd CEMENT The Ramco Cements Ltd TRANSPORTATION Container Corporation of India Ltd TELECOM - SERVICES Bharti Airtel Ltd CHEMICALS Tata Chemicals Ltd FERROUS METALS JSW Steel Ltd Tata Steel Ltd Jindal Steel & Power Ltd INDUSTRIAL CAPITAL GOODS BEML Ltd TRADING Adani Enterprises Ltd CONSUMER DURABLES Bata India Ltd Titan Company Ltd Equity & Equity Related Margin Fixed Deposits Unrated-Margin FD HDFC Bank Ltd Non Convertible Debentures AAA SIDBI 3.38 National Bank for Agri & Rural Develop 3.30 REC Ltd Housing Development Finance Corp Ltd TREASURY BILLS 0.77 SOVEREIGN DAY T-BILL 0.77 Triparty Repo, Cash, Cash Equivalents 5.26 & Net Current Assets Grand Total Indicates Top 10 Holdings Industry Classification (as % of unhedged equities) Banks Software Consumer Non Durables Finance Petroleum Products Auto Pharmaceuticals Construction Project Power Gas Minerals/mining Media & Entertainment Transportation Cement Telecom - Services Chemicals Ferrous Metals Classification by Asset Class Classification by Rating Class as a % of net assets (Fixed Income Portion of ) Quantitative Indicators (Fixed Income Portion of ) Average Maturity 1.33 Years 0.92% 0.53% 0.39% Modified Duration 1.17 Years 13.75% 11.12% 10.92% 10.20% 9.54% 6.58% 4.93% 1.58% 1.51% 1.32% 1.05% 0.99% 0.99% Market Capitalisation of unhedged equities portion Large Cap : 95.92% Mid Cap : 4.14% Hedged Equity : 51.48% Unhedged Equity : 15.20% Fixed Income : 28.06% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 5.26% Unrated-Margin FD : 14.03% AAA : 13.26% Sovereign : 0.77% 23.88% Yield 7.57% For risk factors, statutory details and disclaimers please refer page no. 22 Page 11

12 Union ASSET ALLOCATION FUND (formerly Union Asset Allocation Fund - Plan) (An Open - Ended Scheme investing in Equity and Equity Related Instruments, Debt & Money Market Instruments and Gold Exchange Traded Funds)*** Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Capital Appreciation over Medium to Long Term Investment in Equity and Equity related Instrument, Debt and Money Market Securities and Gold Exchange Traded Funds. Investors understand that their principal will be at moderately high risk Investment Objective The investment objective of the Scheme is to generate capital appreciation by actively investing in a diversified portfolio of Equity and Equity Related Instruments, Debt and Money Market Instruments and Gold Exchange Traded Funds. However, there is no assurance that the investment objective of the Scheme will be achieved. Co-fund Managers Vinay Paharia Over 15 years of experience in Fund Management & Equities. Managing this Scheme from 2nd April Parijat Agrawal Over 22 years of experience in Fund Management. Managing this scheme since inception. Indicative Investment Horizon Medium to Long Term Date of allotment 25 June 2012 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore Benchmark Index 30% S&P BSE 50 Index (+) 55% CRISIL Short Term Bond Fund Index (+) 15% CRISIL Gold Index (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 1. 35% Other than Direct Plan : 1. 45% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Fund Details Exit Load: 0.50% if units are redeemed/ switched out within 6 months from the date of allotment; Nil thereafter. NAV ` per unit (As on Nov 30, 2018) ` Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Industry/Company/ Issuer/Rating Indicates Top 10 Holdings % to Net Assets EQUITY SHARES BANKS 7.66 HDFC Bank Ltd IndusInd Bank Ltd Kotak Mahindra Bank Ltd CONSUMER NON DURABLES 5.27 ITC Ltd Godrej Consumer Products Ltd SOFTWARE 2.90 Infosys Ltd HCL Technologies Ltd AUTO 2.36 Mahindra & Mahindra Ltd Hero MotoCorp Ltd PHARMACEUTICALS 2.18 Lupin Ltd Sun Pharmaceutical Industries Ltd CONSTRUCTION PROJECT 2.04 Larsen & Toubro Ltd PETROLEUM PRODUCTS 1.47 Indian Oil Corporation Ltd TRANSPORTATION 1.33 Container Corporation of India Ltd GAS 1.25 GAIL (India) Ltd MINERALS/MINING 1.15 Coal India Ltd CEMENT 0.87 The Ramco Cements Ltd Equity & Equity Related Government Securities SOVEREIGN GOI GOI GOI TREASURY BILLS SOVEREIGN DAY T-BILL DAY T-BILL 0.84 Exchange Traded Funds Reliance Mutual Fund Reliance ETF Gold Bees Triparty Repo, Cash, Cash Equivalents & 3.33 Net Current Assets Grand Total Industry Classification (Equity) Quantitative Indicators (Fixed Income Portion of ) Average Maturity 1.70 Years Banks Consumer Non Durables Software Auto Pharmaceuticals Construction Project Petroleum Products Transportation Gas Minerals/mining Cement 2.04% 1.47% 1.33% 1.25% 1.15% 0.87% 2.90% 2.36% 2.18% Classification by Asset Class Modified Duration 1.53 Years 5.27% Equity Shares: 28.48% Exchange Traded Funds: 17.64% Government Securities: 28.01% Treasury Bills 22.54% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 3.33% Classification by Rating Class as a % of net assets (Fixed Income Portion of ) Sovereign : 50.55% Yield 6.91% 7.66% ***Pursuant to Notice cum Addendum dated January 23, 2018 issued by Union Asset Management Company Private Limited, Union Asset Allocation Fund (formerly Union Asset Allocation Fund - Plan) has undergone change in fundamental attributes with effect from March 01, For risk factors, statutory details and disclaimers please refer page no. 22 Page 12

13 Union DYNAMIC BOND FUND (An open ended dynamic debt scheme investing across duration) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Regular Income over Medium to Long Term Investment in Debt and Money Market Securities with flexible maturity profile of securities depending on the prevailing market condition. Investors understand that their principal will be at moderate risk Fund Details Investment Objective The investment objective of the Scheme is to actively manage a portfolio of good quality debt as well as money market instruments so as to provide reasonable returns and liquidity to the investors. However, there can be no assurance that the investment objective of the scheme will be achieved. Co-fund Managers Parijat Agrawal Over 22 years of experience in Fund Management. Managing this scheme since inception. Devesh Thacker Over 18 years of experience in Fund Management & Banking Industry. Managing this scheme since June 28, Indicative Investment Horizon Medium to Long Term Date of allotment 13 February 2012 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore Benchmark Index CRISIL Composite Bond Fund Index (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 1.45% Other than Direct Plan : 1. 55% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: 1.00% if units are redeemed/ switched out within 1 year from the date of allotment; Nil thereafter. (w.e.f. April 3, 2018) NAV ` per unit (As on Nov 30, 2018) ` Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Instrument/Rating/Issuer % to Net Assets Non Convertible Debentures AAA REC Ltd SIDBI 5.44 Reliance Industries Ltd Power Grid Corporation of India Ltd Power Finance Corporation Ltd National ways Authority of India 5.22 National Bank for Agri & Rural Develop 2.70 AA Shriram Transport Finance Company Ltd Government Securities SOVEREIGN GOI GOI GOI GOI GOI TREASURY BILLS 2.93 SOVEREIGN DAY T-BILL DAY T-BILL 0.25 Triparty Repo, Cash, Cash Equivalents & Net Current Assets Grand Total Classification by Asset Class Average Maturity 4.86 Years Quantitative Indicators Modified Duration 3.39 Years Non Convertible Debentures : 44.98% Government Securities : 29.36% Treasury Bills : 2.93% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 22.73% Classification by Rating Class AAA : 37.14% Sovereign : 32.29% AA+ : 7.84% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 22.73% Yield 7.68% For risk factors, statutory details and disclaimers please refer page no. 22 Page 13

14 Union LIQUID FUND (An Open-Ended Liquid Scheme) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Reasonable returns over Short Term commensurate with low risk and high level of liquidity. Investment in Money market and Debt securities with maturity of upto 91 days. Investors understand that their principal will be at low risk Fund Details Classification by Asset Class Investment Objective To p r o v i d e r e a s o n a b l e r e t u r n s commensurate with lower risk and high level of liquidity through a portfolio of money market and debt securities. However, there can be no assurance that the investment objective of the scheme will be achieved. Co-fund Managers Devesh Thacker Over 18 years of experience in Fund Management & Banking Industry. Managing this scheme since inception. Deep Mehta Over 5 years of experience in the Financial Markets. Managing this scheme since June 28, Indicative Investment Horizon Short Term Date of allotment 15 June 2011 Assets Under Management As on 30 Nov, 2018: ` 1, crore Average for Nov. 2018: ` 1, crore Benchmark Index CRISIL Liquid Fund Index (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018^^ Direct Plan : 0.09% Other than Direct Plan : 0.19% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: Nil NAV ` per unit (As on Nov 30, 2018) ` 1, Daily Dividend Option : ` Weekly Dividend Option : ` Fortnightly Dividend Option : ` Monthly Dividend Option : ` Direct Plan - ` 1, Direct Plan - Daily Dividend Option : ` Direct Plan - Weekly Dividend Option : ` Direct Plan - Fortnightly Dividend Option : ` Direct Plan - Monthly Dividend Option : ` Unclaimed Amounts Plan - Redemption: Upto 3 Years : ` 1, Unclaimed Amounts Plan - Redemption: Beyond 3 Years : ` Unclaimed Amounts Plan - Dividend: Upto 3 Years : ` 1, Unclaimed Amounts Plan - Dividend: Beyond 3 Years : ` Instrument/Rating/Issuer % to Net Assets Treasury Bills SOVEREIGN DAY T-BILL DAYS CMB DAY T-BILL 4.87 Certificate of Deposits A IDFC Bank Ltd Indian Bank 4.86 IndusInd Bank Ltd The Federal Bank Ltd Kotak Mahindra Bank Ltd SIDBI 2.42 Axis Bank Ltd Commercial Papers A NTPC Ltd Tata Capital Financial Services Ltd Aditya Birla Finance Ltd Bajaj Housing Finance Ltd Housing Development Finance Corp Ltd Hero Fincorp Ltd Cholamandalam Investment & Fin Co Ltd Bajaj Finance Ltd Triparty Repo, Cash, Cash Equivalents & Net Current Assets Grand Total NOTE: The scheme was holding commercial paper of Infrastructure Leasing & Financial Services Ltd which matured on September 14, The issuer had defaulted the payment. The AMC has written down the value of the security by 100% in the books of accounts of Union Liquid Fund as on September 18, Hence, this security is not reflected in the above portfolio anymore. Average Maturity 31 Days Quantitative Indicators Modified Duration 29 Days Certificate of Deposits : 26.62% Commercial Papers : 21.74% Treasury Bills : 27.72% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 23.92% Classification by Rating Class A1+ : 48.36% Sovereign : 27.72% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 23.92% Yield ^^There is a separate plan viz. 'Unclaimed Amounts Plan' which has been launched in terms of SEBI/HO/IMD/ DF2/ CIR/ P/ 2016/37 dated February 25, 2016 for the limited purpose of deployment of unclaimed redemption and unclaimed dividend amount only. Hence, units under the said plan shall not be available for subscription by investors. Please refer addendum dated January 17, 2018, available on our website for more details. The expense ratio for Unclaimed Amounts Plan is 0.49%. 6.87% For risk factors, statutory details and disclaimers please refer page no. 22 Page 14

15 Union SHORT TERM FUND (formerly Union Ultra Short Term Debt Fund) (An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year to 3 years) (please refer to page no. 36 of the SID on which $$$ the concept of Macaulay s Duration has been explained) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Regular Income over Short Term Investment in Money Market and Debt Securities. Investors understand that their principal will be at moderately low risk Fund Details Investment Objective The investment objective of the Scheme is t o p r o v i d e r e a s o n a b l e r e t u r n s commensurate with low to moderate risk and high level of liquidity through a portfolio of short to medium term debt and money market instruments.however, there can be no assurance that the investment objective of the scheme will be achieved. Devesh Thacker Over 18 years of experience in Fund Management & Banking Industry. Managing this scheme since inception. Indicative Investment Horizon Short Term Date of allotment 24 April 2012 Assets Under Management As on 30 Nov, 2018 : ` crore Average for Nov : ` crore Benchmark Index CRISIL Short Term Bond Fund Index (For disclaimers refer page no. 22) Instrument/Rating/Issuer % to Net Assets Government Securities SOVEREIGN GOI GOI GOI Treasury Bills 1.90 SOVEREIGN DAY T-BILL 1.90 Triparty Repo, Cash, Cash Equivalents & Net Current Assets Grand Total Classification by Asset Class Government Securities : 83.91% Treasury Bills : 1.90% Triparty Repo, Cash, Cash Equivalents & Net Current Assets : 14.19% Classification by Rating Class Sovereign : 85.81% Triparty Repo, Cash, Cash Equivalents & Net Current Assets : 14.19% Expense Ratio as on Nov 30, 2018 Direct Plan : 0.30% Other than Direct Plan : 0.45% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: Nil. NAV ` per unit (As on Nov 30, 2018) ` 1, Daily Dividend Option : ` 1, Weekly Dividend Option : ` 1, Fortnightly Dividend Option : ` 1, Monthly Dividend Option : ` 1, Direct Plan - ` 1, Direct Plan - Daily Dividend Option : ` 1, Direct Plan - Weekly Dividend Option : ` 1, Direct Plan - Fortnightly Dividend Option : ` 1, Direct Plan - Monthly Dividend Option : ` 1, Average Maturity 1.12 Years Quantitative Indicators Modified Duration 1.04 Years Macaulay Duration 1.08 Years Yield 7.00% $$$ Pursuant to Notice cum Addendum dated August 18, 2017 issued by Union Asset Management Company Private Limited, Union Short Term Fund (formerly Union Ultra Short Term Debt Fund) has undergone change in fundamental attributes with effect from September 27, Further change in fundamental attributes were made pursuant to Notice cum Addendum dated January 23, 2018 with effect from March 01, For risk factors, statutory details and disclaimers please refer page no. 22 Page 15

16 Union CORPORATE BOND FUND (An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds) Factsheet as on November 30, 2018 This product is suitable for investors who are seeking*: Regular income over Medium to Long term Income by investing in fixed income securities of varying maturities and credit Investors understand that their principal will be at moderately low risk Fund Details Investment Objective To achieve long term capital appreciation by investing substantially in a portfolio of corporate debt securities. However, there is no assurance that the Investment Objective of the scheme will be achieved. Co-fund Managers Parijat Agrawal Over 22 years of experience in Fund Management. Managing this scheme since inception. Anindya Sarkar Over 15 years of experience in Financial services sector. Managing this scheme since November 1, Indicative Investment Horizon Medium to Long Term Date of allotment 25 May 2018 Assets Under Management As on 30 Nov, 2018 : ` crore Average for No v : ` crore Benchmark Index CRISIL Short Term Bond Fund Index (For disclaimers refer page no. 22) Expense Ratio as on Nov 30, 2018 Direct Plan : 1. 26% Other than Direct Plan : 1. 41% The AMC reserves the right to change the expense ratio within the limits prescribed in the SID. Includes additional expenses if, any and GST. Load Structure Entry Load: Nil Exit Load: 1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units. 0.50% if redeemed or switched out after completion of 1 year but before completing 2 years from the date of allotment of units. 0.25% if redeemed or switched out after completion of 2 years but before completing 3 years from the date of allotment of units. Nil if redeemed or switched out after completion of 3 years. NAV ` per unit (As on Nov 30, 2018) Regular Plan - ` Regular Plan - Dividend Option : ` Direct Plan - ` Direct Plan - Dividend Option : ` Instrument/Rating/Issuer % to Net Assets Non Convertible Debentures AAA Dewan Housing Finance Corporation Ltd National Bank for Agri & Rural Develop 7.03 REC Ltd Tata Capital Financial Services Ltd Indiabulls Housing Finance Ltd SIDBI 6.88 National ways Authority of India 6.84 Power Finance Corporation Ltd Indian Railway Finance Corporation Ltd Reliance Industries Ltd AA Shriram Transport Finance Company Ltd Capital First Ltd Tata Motors Ltd Cholamandalam Investment & Fin Co Ltd TREASURY BILLS 0.84 SOVEREIGN DAY T-BILL 0.84 Triparty Repo, Cash, Cash Equivalents & 6.24 Net Current Assets Grand Total Classification by Asset Class Average Maturity 2.10 Years Quantitative Indicators Modified Duration 1.75 Years Non Convertible Debentures : 92.92% Treasury Bills : 0.84% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 6.24% Classification by Rating Class AAA : 69.86% AA+ : 23.06% Sovereign : 0.84% Triparty Repo, Cash, Cash Equivalents & Net Current Assets: 6.24% Yield 8.76% For risk factors, statutory details and disclaimers please refer page no. 22 Page 16

17 For risk factors, statutory details and disclaimers please refer page no. 22 SCHEME BENCHMARK ADDITIONAL $ BENCHMARK Union Largecap Fund (formerly Union Focussed Largecap Fund) Union Multi Cap Fund (formerly Union Equity Fund) Union Small Cap Fund (formerly Union Small and Midcap Fund) Union Tax Saver Scheme Union Balanced Advantage Fund (formerly Union Prudence Fund) S&P BSE 100 Index^^ S&P BSE 500 Index^^ Nifty Smallcap 100 Index (formerly Nifty Free Float Smallcap 100 Index) S&P BSE 500 Index^^ 65% S&P BSE 50 Index (+) 35% CRISIL Composite Bond Fund Index S&P BSE Sensex Index S&P BSE Sensex Index S&P BSE Sensex Index S&P BSE Sensex Index ALLOTMENT DATE Regular Plan - 11th May 2017 Direct Plan - 11th May th June 2011 Direct Plan - 1st Jan 2013 Regular Plan - 10th Jun 2014 Direct Plan - 10th Jun rd Dec 2011 Direct Plan - 1st Jan 2013 NA 29th Dec 2017 Direct Plan - 29th Dec 2017 PLANS (ACROSS A COMMON PORTFOLIO) Direct Plan for investors who purchase units directly with Union Mutual Fund. Regular Plan for investors who purchase units through a Distributor. Direct Plan for investors who purchase units directly with Union Mutual Fund. Investors who purchase units through a Distributor will be allotted units under the Scheme but not under the Direct Plan. Direct Plan for investors who purchase units directly with Union Mutual Fund. Regular Plan for investors who purchase units through a Distributor. Direct Plan for investors who purchase units directly with Union Mutual Fund. Investors who purchase units through a Distributor will be allotted units under the Scheme but not under the Direct Plan. Direct Plan for investors who purchase units directly with Union Mutual Fund. Regular Plan for investors who purchase units through a Distributor OPTIONS (UNDER EACH OF THE PLANS) Dividend with Reinvestment, Payout and Sweep Facility Dividend with Reinvestment, Payout and Sweep Facility Dividend with Reinvestment, Payout and Sweep Facility Dividend with Payout Facility Dividend with Reinvestment, Payout and Sweep Facility DEFAULT OPTION/ FACILITY Option: Facility under Dividend Option: Dividend Reinvestment Option: Facility under Dividend Option: Dividend Reinvestment Option: Facility under Dividend Option: Dividend Reinvestment Option: Option: Facility under Dividend Option: Dividend Reinvestment APPLICATION AMOUNT Application Amount: 5,000 and in thereafter, Additional Investment: 1,000 and in thereafter Redemption Amount: 1,000 and in thereafter Application Amount: 5,000 and in thereafter, Additional Investment: 1,000 and in thereafter Redemption Amount: 1,000 and in thereafter Application Amount: 5,000 and in thereafter, Additional Investment: 1,000 and in thereafter Redemption Amount: 1,000 and in thereafter Application Amount: 500 and in multiples of 500 thereafter, Additional Investment: 500 and in multiples of 500 thereafter Redemption Amount: 500 Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: 1,000 and in thereafter SYSTEMATIC INVESTMENT ~~ PLAN (SIP) Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters Monthly Frequency and in multiples of 500 period: 6 months Quarterly Frequency - 1,500 and in multiples of 500 period: 2 quarters Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters SYSTEMATIC TRANSFER PLAN (STP) SYSTEMATIC WITHDRAWAL PLAN (SWP) FUNDS AT A GLANCE Page 17 Union Equity Savings Fund CRISIL Short Term Debt Hybrid Fund Index. NA Regular Plan - 9th Aug 2018 Direct Plan - 9th Aug 2018 Direct Plan for investors who purchase units directly with Union Mutual Fund. Regular Plan for investors who purchase units through a Distributor Dividend with Reinvestment, Payout and Sweep Facility Option: Facility under Dividend Option: Dividend Reinvestment Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: 1,000 and in thereafter Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters SIP Dates: 2nd, 8th,15th or 23rd of every month The default SIP date will be 8th of every month

18 For risk factors, statutory details and disclaimers please refer page no. 22 SCHEME BENCHMARK ADDITIONAL $ BENCHMARK Union Asset 30% S&P BSE Allocation Fund 50 Index (+) (formerly Union 55% CRISIL Asset Short Term Allocation Fund Bond Fund - Index(+) 15% Plan) CRISIL Gold Index Union Dynamic Bond Fund Union Liquid Fund Union Short Term Fund (formerly Union Ultra Short Term Debt Fund) Union Corporate Bond Fund CRISIL Composite Bond Fund Index CRISIL Liquid Fund Index CRISIL Short Term Bond Fund Index CRISIL Short Term Bond Fund Index CRISIL 10 Year Gilt Index CRISIL 1 Year T-Bill Index ALLOTMENT DATE NA 25th Jun 2012 Direct Plan - 1st Jan 2013 CRISIL 1 Year T-Bill Index 13th Feb 2012 Direct Plan - 1st Jan th Jun 2011 Direct Plan - 1st Jan th Apr 2012 Direct Plan - 1st Jan 2013 NA 25th May 2018 Direct Plan - 25th May 2018 PLANS (ACROSS A COMMON PORTFOLIO) Direct Plan for investors who purchase units directly with Union Mutual Fund. Investors who purchase units through a Distributor will be allotted units under the Scheme but not under the Direct Plan. Direct Plan for investors who purchase units directly with Union Mutual Fund. Investors who purchase units through a Distributor will be allotted units under the Scheme but not under the Direct Plan. Direct Plan for investors who purchase units directly with Union Mutual Fund. Investors who purchase units through a Distributor will be allotted units under the Scheme but not under the Direct Plan. Direct Plan for investors who purchase units directly with Union Mutual Fund. Investors who purchase units through a Distributor will be allotted units under the Scheme but not under the Direct Plan. Direct Plan for investors who purchase units directly with Union Mutual Fund. Regular Plan for investors who purchase units through a Distributor. & OPTIONS (UNDER EACH OF THE PLANS) Dividend with Reinvestment, Payout and Sweep Facility Dividend with Reinvestment, Payout and Sweep Facility Dividend with Reinvestment, Payout and Sweep & Facility Dividend with Reinvestment, Payout and Sweep Facility Dividend with Reinvestment, Payout and Sweep Facility DEFAULT OPTION/ FACILITY Option: Facility under Dividend Option: Dividend Reinvestment. Option: Facility under Dividend Option: Dividend Reinvestment Option: Facility under Dividend Option: Dividend Reinvestment with monthly Frequency Option: Facility under Dividend Option: Dividend Reinvestment with monthly Frequency Option: Facility under Dividend Option: Dividend Reinvestment APPLICATION AMOUNT Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: thereafter Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: thereafter Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: 1,000 and in thereafter Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: thereafter Application Amount: 5,000 and in thereafter, Additional Investment: thereafter Redemption Amount: thereafter SYSTEMATIC INVESTMENT PLAN (SIP)~~ Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters NA Monthly Frequency - 2,000 and in period: 6 months Quarterly Frequency - 5,000 and in period: 2 quarters SYSTEMATIC TRANSFER PLAN (STP) size SYSTEMATIC WITHDRAWAL PLAN (SWP) FUNDS AT A GLANCE ~~SIP Dates: The investors can choose any date as the SIP date. However, in case any of these days falls on a non-business day or on a day which is not available in a particular month, the transaction will be effected on the next business day of the Scheme. The default SIP date will be 8th of every month. This is effective 01 November, 2018 & There is a separate plan viz. 'Unclaimed Amounts Plan' which has been launched in terms of SEBI/HO/IMD/ DF2/ CIR/ P/ 2016/37 dated February 25, 2016 for the limited purpose of deployment of unclaimed redemption and unclaimed dividend amount only. Hence, units under the said plan shall not be available for subscription by investors. Please refer addendum dated January 17, 2018, available on our website for more details. The options available under this Plan are Redemption: Upto 3 years, Redemption: Beyond 3 years, Dividend: Upto 3 years and Dividend: Beyond 3 years. Page 18

19 Performance /Schemes Wise (as on 30th November 2018) Mr. Anshul Mishra - managing this scheme from October 05, Plan/ Option Regular- Direct- Date of Inception 11-May May-17 Period Name of the Scheme Union Largecap Fund Scheme Benchmark ^^ S&P BSE 100 Index $ Additional Benchmark S&P BSE Sensex Index Returns Value^ Returns Value^ Returns Value^ 1 Year -1.64% 9, % 10, % 11,052 Since Inception 1.41% 10, % 11, % 12,240 1 Year -1.05% 9, % 10, % 11,052 Since Inception 2.36% 10, % 11, % 12,240 The scheme has been in existence for more than 1 year but less than 3 years Mr. Anshul Mishra - managing this scheme from June 28, Plan/ Option Direct- Date of Inception 23-Dec Jan-13 Period Union Tax Saver Scheme ^^ S&P BSE 500 Index S&P BSE Sensex Index Returns Value^ Returns Value^ Returns Value^ 1 Year -1.61% 9, % 10, % 11,052 3 Years 5.91% 11, % 14, % 14,400 5 Years 11.14% 16, % 20, % 18,655 Since Inception 12.92% 23, % 27, % 25,484 1 Year -0.98% 9, % 10, % 11,052 3 Years 6.86% 12, % 14, % 14,400 5 Years 11.93% 17, % 20, % 18,655 Since Inception 10.84% 18, % 20, % 20,117 Co Managed by Mr. Vinay Paharia (since April 02, 2018) & Mr. Shivraj Gupta (since June 28, 2018). Plan/ Option Direct- Date of Inception 10-Jun Jan-13 Period Union Multi Cap Fund ^^ S&P BSE 500 Index S&P BSE Sensex Index Returns Value^ Returns Value^ Returns Value^ 1 Year 0.16% 10, % 10, % 11,052 3 Years 7.43% 12, % 14, % 14,400 5 Years 10.71% 16, % 20, % 18,655 7 Years 11.37% 21, % 25, % 24,859 Since Inception 8.65% 18, % 22, % 22,095 1 Year 0.83% 10, % 10, % 11,052 3 Years 8.27% 12, % 14, % 14,400 5 Years 11.58% 17, % 20, % 18,655 Since Inception 10.30% 17, % 20, % 20,117 Co Managed by Mr. Vinay Paharia (April 02, 2018) & Mr. Hardick Bora from (October 25, 2016). Plan/ Option Regular- Direct- Date of Inception 10-Jun Jun-14 Period The scheme has been in existence for more than 3 year but less than 5 years Union Small Cap Fund Nifty Smallcap 100 Index S&P BSE Sensex Index Returns Value^ Returns Value^ Returns Value^ 1 Year % 8, % 7, % 11,052 3 Years 3.13% 10, % 11, % 14,400 Since Inception 6.86% 13, % 12, % 15,044 1 Year % 8, % 7, % 11,052 3 Years 4.12% 11, % 11, % 14,400 Since Inception 7.81% 14, % 12, % 15,044 Co Managed by Mr. Vinay Paharia (April 02, 2018) & Mr. Parijat Agarwal (since inception). Plan/ Option Direct- Date of Inception 25-Jun Jan-13 Period Union Asset Allocation Fund (30% S&P BSE % CRISIL Short Term Bond Fund Index + 15% CRISIL Gold Index) Returns Value^ Returns Value^ Returns Value^ 1 Year 3.08% 10, % 10,625 NA NA 3 Year 6.32% 12, % 13,066 NA NA 5 Year 6.89% 13, % 15,606 NA NA Since Inception 6.87% 15, % 17,711 NA NA 1 Year 3.37% 10, % 10,625 NA NA 3 Year 6.88% 12, % 13,066 NA NA 5 Year 7.52% 14, % 15,606 NA NA Since Inception 6.89% 14, % 16,357 NA NA NA Plan/ Option Date of Inception Period Union Capital Protection Oriented Fund - Series 7 85% CRISIL Short Term Bond Fund Index + 15% S&P BSE 50 Index Returns Value^ Returns Value^ Returns Value^ NA Co Managed by Mr. Vinay Paharia (April 02, 2018) & Mr. Parijat Agarwal (since inception). Regular- 28-Feb-17 1 Year 4.60% 10, % 10,612 NA NA Since Inception 5.51% 10, % 11,363 NA NA Direct- 28-Feb-17 1 Year 5.18% 10, % 10,612 NA NA Since Inception 6.28% 11, % 11,363 NA NA For risk factors, statutory details and disclaimers please refer page no. 22 Page 19

20 Performance /Schemes Wise (as on 30th November 2018) Name of the Scheme Scheme Benchmark $ Additional Benchmark Plan/ Option Date of Inception Period Union Capital Protection Oriented Fund - Series 8 CRISIL Hybrid Conservative Index Returns Value^ Returns Value^ Returns Value^ NA Co Managed by Mr. Vinay Paharia (April 02, 2018) & Mr. Parijat Agarwal (since inception). Regular- 8-Sep-17 1 Year 4.53% 10, % 10,388 NA NA Since Inception 4.36% 10, % 10,436 NA NA Direct- 8-Sep-17 1 Year 5.31% 10, % 10,388 NA NA Since Inception 5.16% 10, % 10,436 NA NA Mr. Parijat Agarwal (since inception) & Mr. Devesh Thacker (since June 28, 2018). Plan/ Option Direct- Date of Inception 13-Feb Jan-13 Period Union Dynamic Bond Fund CRISIL Composite Bond Fund Index CRISIL 10 Year Gilt Index Returns Value^ Returns Value^ Returns Value^ 1 Year 2.23% 10, % 10, % 10,252 3 Year 5.25% 11, % 12, % 12,026 5 Year 6.82% 13, % 15, % 14,614 Since Inception 6.51% 15, % 17, % 15,562 1 Year 2.59% 10, % 10, % 10,252 3 Year 5.93% 11, % 12, % 12,026 5 Year 7.51% 14, % 15, % 14,614 Since Inception 6.78% 14, % 15, % 14,468 Co Managed by Mr. Devesh Thacker (since inception) & Mr. Deep Mehta (since June 28, 2018). Plan/ Option Direct- Date of Inception 15-Jun Jan-13 Period Union Liquid Fund CRISIL Liquid Fund Index CRISIL 1 Year T-Bill Index Returns Value^ Returns Value^ Returns Value^ Last 7 Days 7.02% 10, % 10, % 10,016 Last 15 Days 7.03% 10, % 10, % 10,039 Last 30 Days 7.09% 10, % 10, % 10,086 1 Year 3.56% 10, % 10, % 10,644 3 Year 5.83% 11, % 12, % 12,101 5 Year 6.97% 14, % 14, % 14,229 7 Year 7.68% 16, % 17, % 16,292 Since Inception 7.77% 17, % 17, % 16,830 Last 7 Days 7.13% 10, % 10, % 10,016 Last 15 Days 7.13% 10, % 10, % 10,039 Last 30 Days 7.20% 10, % 10, % 10,086 1 Year 3.64% 10, % 10, % 10,644 3 Year 5.95% 11, % 12, % 12,101 5 Year 7.08% 14, % 14, % 14,229 Since Inception 7.42% 15, % 15, % 14,971 Mr. Devesh Thacker - managing this scheme since inception. Plan/ Option Direct- Date of Inception 24-Apr Jan-13 Period Union Short Term Fund CRISIL Short Term Bond Fund Index CRISIL 1 Year T-Bill Index Returns Value^ Returns Value^ Returns Value^ 1 Year 5.53% 10, % 10, % 10,644 3 Year 6.18% 11, % 12, % 12,101 5 Year 7.22% 14, % 14, % 14,229 Since Inception 7.72% 16, % 16, % 15,771 1 Year 5.67% 10, % 10, % 10,644 3 Year 6.28% 12, % 12, % 12,101 5 Year 7.32% 14, % 14, % 14,229 Since Inception 7.59% 15, % 15, % 14,971 For risk factors and statutory details please see overleaf. Mr. Vinay Paharia co-manages 7 schemes for Union Mutual Fund. Mr. Parijat Agarwal co-manages 7 schemes for Union Mutual Fund. Mr. Anshul Mishra manages 2 schemes for Union Mutual Fund. Mr. Devesh Thacker manages 1 scheme and co-manages 2 schemes for Union Mutual Fund. Mr. Hardick Bora co-manages 3 schemes for Union Mutual Fund. Mr. Shivraj Gupta co-manages 1 scheme for Union Mutual Fund. Mr. Deep Mehta co-manages 1 scheme for Union Mutual Fund. Mr. Anindya Sarkar co-manages 1 scheme for Union Mutual Fund. The scheme is oriented towards protection of capital and not with guaranteed returns. The orientation towards protection of capital originates from the portfolio structure of the scheme and not from any bank guarantee, insurance cover etc. Scheme Name Applicable to Union Capital Protection Oriented Fund - Series 7 Applicable to Union Capital Protection Oriented Fund - Series 8 This product is suitable for investors who are seeking*: Capital Protection at Maturity and Capital Appreciation over medium term Investment in Debt and Money Market Securities (80% - 100%) and Equity and Equity related instruments (0% - 20%). Capital Protection at Maturity and Capital Appreciation over medium term Investment in Debt and Money Market Securities (80% - 100%) and Equity and Equity related instruments (0% - 20%). Investors understand that their principal will be at moderately low risk For risk factors, statutory details and disclaimers please refer page no. 22 Page 20

21 SIP Performance (SIP Returns as on November 30, 2018 if you had invested ` 10,000 every month) $$$$ Union Multi Cap Fund Date of Inception: 10th June 2011 Total Amount Invested (`)^ Total Value as on 30th November 2018 Scheme Returns (%) - Option S&P BSE 500 (`) S&P BSE 500 (%) $ S&P BSE Sensex (`) $ S&P BSE Sensex (%) Union Tax Saver Scheme Date of Inception: 23rd December 2011 Total Amount Invested (`)^ Total Value as on 30th November 2018 Scheme Returns (%) - Option S&P BSE 500 (`) S&P BSE 500 (%) $ S&P BSE Sensex (`) $ S&P BSE Sensex (%) Union Small Cap Fund Date of Inception: 10th June 2014 Total Amount Invested (`)^ Total Value as on 30th November 2018 Scheme Returns (%) Regular Plan - Option Nifty Smallcap 100 (`) Nifty Smallcap 100 (%) $ S&P BSE Sensex (`) $ S&P BSE Sensex (%) Union Largecap Fund Date of Inception: 11th May 2017 Total Amount Invested (`)^ Total Value as on 30th November 2018 Scheme Returns (%) Regular Plan - Option S&P BSE 100 (`) S&P BSE 100 (%) $ S&P BSE Sensex (`) $ S&P BSE Sensex (%) Periods 1 Year 3 Years 5 Years 7 Years Since Inception 120, , , , , , , ,536 1,148,397 1,267, % 6.88% 6.56% 8.98% 9.13% 118, , ,339 1,327,654 1,471, % 10.67% 11.20% 13.13% 13.08% 123, , ,674 1,310,191 1,449, % 14.07% 11.64% 12.75% 12.69% Periods 1 Year 3 Years 5 Years 7 Years Since Inception 120, , ,000 NA 840, , , ,141 NA 1,155, % 5.34% 5.95% NA 9.15% 118, , ,339 NA 1,327, % 10.67% 11.20% NA 13.13% 123, , ,674 NA 1,310, % 14.07% 11.64% NA 12.75% Periods 1 Year 3 Years 5 Years 7 Years Since Inception 120, ,000 NA NA 540, , ,623 NA NA 558, % -1.41% NA NA 1.56% 100, ,447 NA NA 565, % -2.61% NA NA 2.13% 123, ,092 NA NA 690, % 14.07% NA NA 11.29% Periods 1 Year 3 Years 5 Years 7 Years Since Inception 120,000 NA NA NA 190, ,918 NA NA NA 187, % NA NA NA -2.10% 120,858 NA NA NA 197, % NA NA NA 5.38% 123,327 NA NA NA 203, % NA NA NA 9.67% In case, the start date or the end date of the concerned period is a non-business day, the NAV of the previous business day is considered for computation of returns. $$$$Monthly SIP amount is assumed to be ` 10,000. SIP date is assumed as the last working day of the month. Past performance may or may not be sustained in future. Returns shown above are for Options / Regular Plan - Options and Direct Plan - Options of the various schemes. Returns for more than 1 year period are Compounded Annual Rate (CAGR). Performance of the Dividend Option for the investor would be net of the dividend distribution tax, as applicable. The Direct Plan has a lower expense ratio as compared to the Regular/ Other than Direct Plan to the extent of distribution expenses, commission, etc and no commission or distribution expenses for distribution of Units or distribution expenses are paid / charged under the Direct Plan. ^Based on standard investment of ` 10,000 made at the beginning of the relevant period. $ Standard Benchmark prescribed by SEBI vide circular dated August 22, ~ Annualised Returns The performance of the Schemes have been benchmarked to the Total Return variant of the Index (TRI). For the schemes in existence for less than 1 year, the past performance details have not been provided. For risk factors, statutory details and disclaimers please refer page no. 22 Page 21

22 Dividend History Union Multi Cap Fund Dividend History^^^ - Dividend Option Record Date Face Value (`) / unit NAV (`) / unit Dividend (`) / unit 20 December September March 2018 Record Date 22 March 2018 Record Date 28 September March 2018 Record Date 28 September March 2018 Record Date 27 February September March 2018 Record Date 18 April September March 2018 Record Date 18 April September March Dividend History^^^ - Direct Plan - Dividend Option Face Value (`) / unit 10 NAV (`) / unit Union Small Cap Fund Dividend History^^^ - Regular Plan - Dividend Option Face Value (`) / unit NAV (`) / unit Dividend History^^^ - Direct Plan - Dividend Option Face Value (`) / unit NAV (`) / unit Union Tax Saver Scheme Dividend History^^^ - Regular Plan - Dividend Option Face Value (`) / unit NAV (`) / unit Union Asset Allocation Fund Dividend History^^^ - Dividend Option Face Value (`) / unit NAV (`) / unit Dividend History^^^ - Direct Plan - Dividend Option Face Value (`) / unit NAV (`) / unit Dividend (`) / unit 1.50 Dividend (`) / unit Dividend (`) / unit Dividend (`) / unit Dividend (`) / unit Dividend (`) / unit Record Date 18 January January September 2017 Record Date 18 January January September 2017 Union Dynamic Bond Fund Dividend History^^^ - Dividend Option Face Value (`) / unit NAV (`) / unit Dividend History^^^ - Direct Plan - Dividend Option Face Value (`) / unit Union Liquid Fund NAV (`) / unit Dividend History^^^ - Monthly Option Dividend History^^^ - Direct Plan - Monthly Option Dividend (`) / unit Dividend (`) / unit Record Date Face Value (`) / unit NAV (`) / unit Dividend (`) / unit 25 June July August , Record Date Face Value (`) / unit NAV (`) / unit Dividend (`) / unit 25 June July August , Union Short Term Fund Dividend History^^^ - Monthly Option Record Date Face Value (`) / unit NAV (`) / unit Dividend (`) / unit 28 September , October , November , Dividend History^^^ - Direct Plan - Monthly Option Record Date Face Value (`) / unit NAV (`) / unit Dividend (`) / unit 28 September , October , November , ^^^Past Performance may or may not be sustained in future. Dividend is declared on the face value per unit. Dividend figure provided in the table above is before considering dividend distribution tax, if applicable. After payment of dividend the per unit NAV of the Dividend Option of the scheme falls to the extent of the dividend pay out and statutory levy if any. Risk Factors, Statutory Details and Disclaimers Benchmark Nifty Smallcap 100 Index disclaimer: The Product offered by the issuer is not sponsored, endorsed, sold or promoted by India Index Services & Products Limit ed (IISL). IISL does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of the Product or any member of the public regarding the advisability of investing in securities generally or in the the Product linked to Nifty Smallcap 100 Index or particularly in the ability of the Nifty Smallcap 100 Index, to track general stock market performance in India. Please read the full Disclaimers in relation to the Nifty Smallcap 100 Index in the Scheme Information Document. CRISIL Disclaimer: CRISIL Indices are the sole property of CRISIL Limited (CRISIL). CRISIL Indices shall not be copied, transmitted or distributed in any manner for any commercial use. CRISIL has taken due care and caution in computation of the Indices, based on the data obtained from sources, which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of the Indices and is not responsible for any errors or for the results obtained from the use of the Indices. CRISIL especially states that it has no financial liability whatsoever to the users of CRISIL Indices. ^^Benchmark S&P BSE 100 Index / S&P BSE 500 Index disclaimer: The "Index" viz. S&P BSE 100 / S&P BSE 500, is a product of Asia Index Private Limited (AIPL), which is a joint venture of S&P Dow Jones Indices LLC or its affiliates ( SPDJI ) and BSE Limited, and has been licensed for use by Union Asset Management Company Private Limited (formerly Union KBC Asset Management Company Private Limited). For the detailed disclaimer in this regard please refer to the Scheme Information Document (SID) of the Scheme. MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY. Statutory Details: Constitution: Union Mutual Fund (formerly Union KBC Mutual Fund) has been set up as a Trust under the Indian Trusts Act, 1882; Sponsors: Union Bank of India and Dai-ichi Life Holdings, Inc.; Trustee: Union Trustee Company Private Limited (formerly Union KBC Trustee Company Private Limited), [Corporate Identity Number (CIN): U65923MH2009PTC198198], a company incorporated under the Companies Act, 1956 with a limited liability; Investment Manager: Union Asset Management Company Private Limited (formerly Union KBC Asset Management Company Private Limited), [Corporate Identity Number (CIN): U65923MH2009PTC198201], a company incorporated under the Companies Act, 1956 with a limited liability. Registered Office: Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai Toll Free No Non Toll Free Fax No: Website: investorcareunionmf.com For risk factors, statutory details and disclaimers please refer page no. 22 Page 22

23 Our Presence Ahmedabad : Union Asset Management Company Pvt. Ltd., 907, Shitiratna Building, 9th Floor, Panchvati Circle, C. G. Road, Ahmedabad Office: Bangalore : Union Asset Management Company Pvt. Ltd., No. W-303, 3rd Floor, Sunrise Chambers, 22 Ulsoor Road, Bangalore Office: Bhubaneswar Chandigarh : Union Asset Management Company Pvt. Ltd., Union Bank of India, Service Branch, 1st Floor, Plot No-38, Ashok Nagar, Bhubaneswar Office: : Union Asset Management Company Pvt. Ltd., Deepak Towers, SCO , Cabin No- 202, Second Floor, Sector 17- C, Chandigarh Office: Chennai : Union Asset Management Company Pvt. Ltd., JVL Arcade, G 2, Ground Floor, 18/199, North Usman Road, T Nagar, Chennai Office: ; Fax: New Delhi : Union Asset Management Company Pvt. Ltd., 603, Surya Kiran Building, 19, K G Marg, New Delhi Office: Hyderabad : Union Asset Management Company Pvt. Ltd., C/O Union Bank of India, Regional Office, , Prestige Rai Towers, Opp NIMS, Punjagutta Main Road, Hyderabad Office: Indore Jaipur Cochin Kolkata Lucknow Mumbai Nagpur Pune Raipur Ranchi Varanasi Union Asset Management Company Pvt. Ltd., Office No - 309, Starlit Tower, 29, Yeshwant Niwas Road, Indore , Madhya Pradesh : Union Asset Management Company Pvt. Ltd., 403, 4th Floor, Ambition Tower, Subhash Marg, Agrasen Circle, C-Scheme, Jaipur Office: ; F: : Union Asset Management Company Pvt. Ltd., M/S. Mayur Business Centre, Pulleppady Jn., Chittoor Road, Ernakulam, Ernakulam Village, Cochin Office: : Union Asset Management Company Pvt. Ltd., 32, Chowringhee Road, OM Tower, 10th Floor, Room No. 1008, Kolkata Office: : Union Asset Management Company Pvt. Ltd., 208, 2nd Floor, Saran Chambers II, 5 Park Road, Lucknow Office: / : Union Asset Management Company Pvt. Ltd., Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai Office: ; Fax: : Union Asset Management Company Pvt. Ltd., Fortune Business Centre, 6, Vasant-Vihar, 1st Floor, W.H.C Road, Shankar Nagar, Nagpur Office: : Union Asset Management Company Pvt. Ltd., Chanakyapuri Building, Office No. 4, 2nd Floor, Tukaram Paduka Chowk, F C Road, Pune Office: : Union Asset Management Company Pvt. Ltd., Shop No. T - 18, 3rd Floor, Raheja Tower, Jail Road, Fafadih Chowk, Raipur Office: : Union Asset Management Co Pvt ltd, 108, 1st Floor, Satya Ganga Arcade, Lalji Hirji Road, Ranchi Jharkhand State : Union Asset Management Company Pvt. Ltd., Shop No. 9,10,11, 1st Floor, Kuber Complex, Rathyatra Crossing, Varanasi Office: You can also connect with us at: MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY. Page 23

24 Scheme Re-opens for continuous sale and repurchase on: December 12, 2018 Page 24