Union Mutual Fund has launched a new multi-asset allocation fund aimed at achieving long-term capital appreciation through a diversified portfolio that includes equity, debt, gold, and REITs, with a New Fund Offer (NFO) closing on September 3. Additionally, Tata Asset Management has introduced the Tata Nifty200 Alpha 30 Index Fund, which tracks the top 30 high-alpha companies within the Nifty200 Index, open for subscription until September 2. This index fund employs a passive investment strategy that adjusts to market conditions and aims to outperform traditional market-cap weighted indices, although it may underperform during market downturns. Both funds cater to investors seeking diversification and potential capital growth, with varying risk profiles and investment strategies. The Tata fund requires a minimum investment of ₹5,000, while Union's fund allows for entry at ₹1,000. Overall, the launch of these funds reflects a growing trend of diversified investment options in the mutual fund sector.