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Kolkata , March 1

ESCORTS Income Plan has proposed to issue bonus units in the ratio of 9:10, the record date for which has been fixed for March 20.

A press note issued by Escorts MF quotes Mr K.K. Mittal, CIO, as stating that all unit holders of the scheme as per investment register on the relevant date will be eligible to receive bonus units. With the financial year quickly coming to a close, the bonus is particularly aimed at investors who wish to use it as a tax-saving device.

Escorts Income Plan has chiefly invested in securities issued by various state-owned corporations. These include Tamil Nadu Electricity Board (the top holding, accounting for 11.04 per cent of the total as on February 24, 2004), AP Power Finance Corporation, Karnataka Neeravari Nigam, Kerala Power Finance Corporation and Krishna Bhagya Jala Nigam Ltd. The fund also has limited exposure to Government securities and instruments issued by FIs like IDBI.

As on February 28, the one- and three-month returns generated by Escorts Income Plan are 0.63 per cent and 2.25 per cent respectively. On a one-year basis, it has provided 11.17 per cent to investors.

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