Escorts Mutual Fund has announced monthly dividend under Escorts Income Plan, an open-end income fund. The record date for the distribution of dividend is 31 October 2008.
The amount of dividend is set at Rs 0.040 under Escorts Income Plan on the face value of Rs 10 per unit. The investment objective is to generate current income by investing predominantly in a well -diversified portfolio of fixed income securities and money market instruments with moderate risk levels.
NAV for Escorts Income Plan under dividend option was at Rs 10.6612; NAV under growth option was Rs 25.5878 and that of bonus option at Rs 13.4734 as on 23 October 2008.
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