ESCORTS MUTUAL FUND
	HALF YEARLY PORTFOLIO STATEMENT FOR THE PERIOD ENDED 31.03.2006
			ESCORTS INCOME BOND
S. NO.	NAME OF THE INSTRUMENT	RATING	SUB INDUSTRY	QUANTITY	MKT VALUE	% to NAV
	EQUITY & EQUITY RELATED				(Rs. in Lakhs)
	(a) Listed / awaiting  listing on Stock Exchanges
1	CENTURY TEXTILES LTD	N.A.	Cement	3400	15.12	4.82
2	EVEREST KANTO CYLIENDERS LTD	N.A.	Gas Cylinder	2500	10.40	3.31
3	SIMBHAOLI SUGARS	N.A.	Sugares	6000	9.84	3.14
4	RELIANCE INDUSTRIES LTD	N.A.	Refinaries	1200	9.55	3.04
5	INDORAMA TEXTILES LTD	N.A.	Man made Fabrics	10000	7.45	2.37
6	INOX LEISURES LTD	N.A.	Entertainment	3000	6.36	2.02
7	RELIANCE COMMUNICATIONS VENTURES LTD	N.A.	Telecom Services	1800	5.56	1.77
8	BHEL	N.A.	Power Equipments	200	4.48	1.43
9	RECRON SYNTHETICS LTD	N.A.	Textiles	40000	3.98	1.27
10	SOLAR EXPLOSIVES LTD	N.A.	Explosives	1402	2.66	0.85
11	ITC	N.A.	Cigarettes	1000	1.95	0.62
12	GUJARAT AMBUJA CEMENT	N.A.	Cement	1000	1.03	0.33
13	RELIANCE ENERGY VENTURES LTD	N.A.	Power	1800	0.78	0.25
14	RELIANCE NATURAL RESOURCES LTD	N.A.	Gas Transmission	1800	0.60	0.19
15	RELIANCE CAPITAL VENTURES LTD	N.A.	NBFC	1800	0.45	0.14
	TOTAL				80.21	25.55
	DEBT INSTRUMENTS
	(a) Listed / awaiting listing on Stock Exchanges
16	11.50% ICICI 2009	AAA	N.A.	3000	33.15	10.56
17	11.85 % HUDCO 2007	AA-	N.A.	20	20.85	6.65
18	11.58% HPSEB	Unrated	N.A.	4	20.22	6.44
19	13% KARNATKA STATE FINANCE CORP. 2007	AA-	N.A.	19	20.05	6.39
20	11.65% TNEB 2007	A+	N.A.	30	19.88	6.34
21	6.75% GOI	Sovereign	N.A.	19032	19.05	6.07
22	10.75% TIDCO 2009	A+(so)	N.A.	12	12.13	3.87
23	13.15% TAMILNADU ELECTRICITY BOARD	A+	N.A.	25	7.62	2.43
24	11.50% IFCI 2009	AA	N.A.	5	5.45	1.74
25	13.25% APTRANSCO	A	N.A.	5	5.16	1.64
	TOTAL				163.56	52.13
	(b) Unlisted / Privately Placed				NIL	NIL
				Total	243.77	77.68
	MONEY MARKET INSTRUMENTS
	Money at call				NIL	NIL
	OTHERS
	Other Receivables / (Payable)				70.02	22.32
	Grand Total				313.79	100.00
	Notes :-
1	Total NPA provided for is Rs. 325 lacs and is percentage to NAV is 103.50%
2	Total value and percentage of illiquid equity shares is NIL.
3	NAV as on  30-9-2005   Dividend Option is Rs. 13.6511
	Growth Option is Rs. 16.1724
4	NAV as on  31-03-2006   Dividend Option is Rs. 15.3062
	Growth Option is Rs. 18.1313
5	Dividend declared during the period is NIL. Bonus declared during the period is NIL.
6	Total outstanding exposure in derivatives instruments as on 31-03-2006 is Rs. 7.30 Lacs
7	Total Investments in foreign securities/ADRs /GDRs as on 31-03-2006 is NIL.
8	The Average Maturity period is 1.63 Years