| |
KARACHI (August 25 2007): Atlas Asset Management Limited (AAML), an Atlas Group company, has launched Atlas Pension Fund (APF), a voluntary pension fund, under the Voluntary Pension System Rules, 2005. The Fund is being introduced with the aim to encourage and facilitate the investors to save for their retirement.
The basic parameters of the Fund are that it will be funded (based on defined contribution) and shall be individualised and portable. The investors, therefore, will not only have the discretion over contribution amount, but also on the asset allocation.
The APF has three sub-funds: Equity, Debt and Money Market, in which the amounts contributed will be allocated to units based on investor's preference. Moreover, the APF will offer an insurance wrap, which will enable investors to receive life coverage in case of accidental death or disability.
AAML's technical collaboration with 'ING', a Dutch financial conglomerate, will give it a competitive advantage in terms of fund management, product development and marketing of APF. Atlas is one of four asset management companies to have received the license to act as a pension fund manager from SECP.-PR
|
