The Board of Directors of Atlas Asset Management Limited (AAML), an Atlas Group Company in their meeting held on January 11, 2011, approved second quarter pay-outs (ended December 31, 2010) for its Atlas Money Market Fund (AMF), Atlas Income Fund (AIF) and Atlas Islamic Income Fund (AIIF).
For Atlas Money Market Fund (AMF) AA+(f) rated by Pacra, the Board approved a second interim bonus of Rs 13.75 per unit (2.75 percent on the face value of Rs 500 per unit). This is in addition to the payout of Rs 11.50 per unit (2.30 percent on the face value of Rs 500 per unit) already paid, making a total of 5.05 percent for the two quarters. AMF provides competitive returns from a portfolio of low risk, short duration assets, while maintaining high liquidity.
For Atlas Income Fund (AIF) AA-(f) rated by Pacra, a bonus of Rs 12.50 per unit (2.5 percent on the face value of Rs 500 per unit) was approved. Atlas Islamic Income Fund (AIIF) AA-(f) rated by Pacra, a second interim bonus of Rs 11.25 per unit (2.25 percent on the face value of Rs 500 per unit) was approved. This is in addition to the payout of Rs 11.0 per unit (2.20 percent on the face value of Rs 500 per unit) already paid, making a total of 4.45 percent for the two quarters.
The Pakistan Credit Rating Agency (Pacra) has upgraded stability rating of Atlas Money Market Fund (AMF) to 'AA+(f)' (Double A Plus - fund rating) [Previous rating: 'AA(f)' Double A - fund rating )] an open-end money market fund. The fund's rating denotes a very strong capacity to manage relative stability in returns and very low exposure to risks. In a short span, AMF witnessed a significant increase in its size to reach 2.35bn with a diversified unit holding pattern.-PR
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