Mideast (India)

festival investments, festival gifts or festival buying, by providing them income and growth on their investments near the time of the festival of their choice every year (Plan B) or a lump sum at the time of expiry of the scheme to meet big festival needs five years later (Plan A). The scheme which opened on October 10 will remain open till December 10. Under the scheme the investors are given a choice of about 25 festivals. The scheme allows free transfers under both the plans after six months. Further, under Plan A there is an added advantage of listing after one year on major stock exchanges, whereas under Plan B the Fund itself provides repurchase facility after one year. BOI Mutual Fund collected over Rs 600 crore from as many as five lakh investors under its earlier two schemes. This is a record, both in terms of amount collected and the number of investors, by a mutual fund in India in its maiden attempt in mobilising resources.