The Board of Directors of Atlas Asset Management Limited (AAML), an Atlas Group Company in their meeting held on October 12, 2010, approved first quarter pay-outs (ended September 30, 2010) for its Atlas Money Market Fund (AMF) and Atlas Islamic Income Fund (AIIF). The Board also approved the final pay-outs of Atlas Fund of Funds for the financial year ended June 30, 2010.
For Atlas Money Market Fund (AMF) AA(f) rated by Pacra, the Board approved a bonus of Rs 11.50 per unit (2.30 percent on the face value of Rs 500 per unit). AMF provides competitive returns from a portfolio of low risk, short duration assets while maintaining high liquidity. For Atlas Islamic Income Fund (AIIF) AA-(f) rated by Pacra, a bonus of Rs 11.0 per unit (2.20 percent on the face value of Rs 500 per unit) was approved.
For Atlas Fund of Funds a final distribution of cash dividend of Rs 0.22 per certificate (2.20 percent on the face value of Rs 10 per certificate) was approved. The certificate holders whose names appeared in the register at the close of November 2, 2010 will be entitled for the above cash dividend. Atlas Asset Management Limited (AAML), owned by Shirazi Investments (Pvt) Limited (holding company of Atlas Group) manages mutual funds, pension funds and various investment plans.