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Escorts MF plans to launch a Liquid plan

With its four-year track record in the fund industry and a portfolio of seven schemes, Escorts Mutual Fund plans to launch an open-ended short-term debt fund. The AMC has filed an application with SEBI for "Escorts Liquid Plan".

The proposed fund will strive towards generating current income while providing high liquidity. To this end, the fund will invest up to 65-100 per cent of the portfolio in money market and 35-0 per cent in fixed income instruments with a low risk profile. The minimum investment is pegged at Rs 5000 and the fund will be available on no-load basis.

Escorts Mutual Fund kicked off in October 1996 with a five-year term close-ended bond fund, Escorts Income Bond followed by another open-ended bond fund, Escorts Income Plus, now renamed Escorts Income Plan. After staying as a debt fund house for over 3 years, the AMC launched a tax saving scheme in March 2000 followed by a balanced, diversified equity and a closed-end specialty scheme in February 2001. As on April 31, 2001, the AMC managed assets to the tune of Rs 83 crore.