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Union KBC Mutual Fund was originally cosponsored by Union Bank of India and KBC Participations Renta, a 100% subsidiary of KBC Asset Management NV.
Subsequently in September 2016, Union Bank of India acquired the entire shareholding held by KBC Participations Renta in Union Asset Management Company Private Limited (Union AMC) and Union Trustee Company Private Limited
On 17th May 2018, Dai-ichi Life Holdings, Inc. invested in Union AMC to the extent of 39.62% of the post issue share capital of Union AMC. Consequently, Union Bank of India and Dai-ichi Life Holdings, Inc. have become Co-sponsors of Union Mutual Fund.
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