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Our Bureau

Mumbai , Sept. 30

BANK of India has decided to merge its mutual fund arm with the banking operations.

"The bank has now decided to wind up BOI Mutual Fund by amalgamating it with itself and by taking over the remaining four schemes under the management of the bank.

"The BOI Mutual Fund would surrender the Certificate of Registration to the Securities and Exchange Board of India, once the winding-up process is accomplished," said a notification from the bank to the Bombay Stock Exchange.

Bank of India mutual fund managed six funds. Two of these were subsequently taken over by the Delhi-based Taurus Mutual Fund.

More Stories on : Public Sector Banks | Mutual Funds | Mergers & Acquisitions

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