Taurus Mutual Fund will take over the two schemes of BoI Mutual - BoI Best & Boinanza Exclusive, with effect from March 25, 2002. These schemes will be renamed as BONANZA ELSS - 93 and BONANZA Exclusive Growth. The holders of the above two schemes have an option to exit at the prevailing NAV as on March 23, 2002 without any exit load.
BoI Mutual Fund currently manages 3 funds with a total asset base of Rs 24.67 crore, as on September 30, 2001. Apart from the above two, it also manages a closed-end tax-planning fund - Boinanza 80CCB. It is due for redemption this month.
Taurus Mutual Fund has total assets of Rs 69.70 crore, as on February 28, 2002. It currently manages 4 open-end equity funds and 2 open-end debt funds. With the take over of above two schemes of BoI Mutual, Taurus Mutual's assets under management will increase by Rs 15.31 crore.