Atlas Islamic Fund of Funds
Allocation Plans under Atlas Islamic Fund of Funds
Indicative Minimum |
||||
Name of Allocation Plans |
Cash & Near |
Atlas Islamic |
Atlas Islamic Income |
Shariah Compliant |
Atlas Aggressive Allocation Islamic Plan |
Up to 10% |
Minimum 65% |
Minimum 25% |
– |
Atlas Moderate Allocation Islamic Plan |
Up to 10% |
Minimum 45% |
Minimum 45% |
– |
Atlas Conservative Allocation Islamic Plan |
Up to 10% |
Minimum 20% |
Minimum 70% |
– |
Atlas Islamic Capital Preservation Plan |
Up to 100% with Min |
Up to 50% |
Up to 100% |
– |
Atlas Islamic Dividend Plan (AIDP)**** |
Minimum 10% |
– |
Up to 90% |
Up to 50% |
* Managed by the Management Company and / or by other Asset Management Companies.
** Cash at Bank accounts of Islamic Banks and licensed Islamic Banking windows of conventional Banks (excluding TDRs) and GOP Ijarah Sukuk not exceeding 90 days remaining maturity.
*** Cash at Bank accounts of Islamic Banks and licensed Islamic Banking windows of conventional Banks and Term Deposit (TDRs) Islamic Banks and licensed Islamic Banking windows of conventional Banks.
****AIDP shall distribute all net profit (after deducting all expenses of the Plan) as dividend and that dividend shall be re-invested after deducting applicable taxes to investors.
Fund Launch Date | : | January 7, 2019 |
Type | : | Open-ended Islamic Fund of Funds |
Category | : | Shariah Compliant Fund of Funds |
Dealing Days | : | Monday to Friday |
Pricing Mechanism | : | Forward Pricing |
Management Fee | : | No Management fee in case of investment is made in Collective Investment Scheme (CIS). However, the AAML shall be entitled to an accrued remuneration equal to an amount not exceeding 1.0% of average Annual Net Assets, within allowed expense ratio limit in case investment is made in Cash/ Near Cash instruments, savings and term deposits made with Islamic banks or Islamic banking windows of commercial banks. |
Front End Load | : | Up to 2% (Amount less than or equal to Rs.25 Million). However, in case where transaction are done online or through a website, the maximum front-end load will be up to 1.5% and No Front-end Load will be charged in case of investment made in Atlas Islamic Dividend Plan. |
Back End Load | : | Back-end Load shall be charged to the CPPI base plan. 2.5% back-end Load shall be charged in case redemption from the fund is made before the stated maturity/duration of the CPPI Plan(s). |
Duration | : | The Duration of the Allocation Plan is perpetual. However, the initial maturity of – (AICPP) shall be thirty month (2.5 years) from the close of the subscription period. |
Risk Profile | : | Plan Specific |
Trustee | : | Central Depository Company of Pakistan Limited (CDC) |
Registrar | : | ITMinds Limited: 99-B, Block “B”, S.M.C.H.S., Shahrah-e-Faisal, Karachi. |
Auditor | : | EY Ford Rhodes |
Financial Year Ending | : | June 30 |
Minimum Investment | : | Rs.5,000/- (and Rs.1000 thereafter) |
Shariah Advisor | : | Dr. Mufti Muhammad Wasie |
Benchmark | : | The benchmark of each allocation plan will be the weighted average return of KMI-30 Index, and Six months average deposit rates of three (3) “A” rated Islamic Banks or Islamic windows of conventional banks as selected by MUFAP. |
- Shariah Compliant investment and halal profit
- Competitive returns
- 20% Tax Credit as per Section 62 of Income Tax Ordinance 2001
- Under the guidance of Shariah Advisor Dr. Mufti Muhammad Wasie
- Risk Diversification
- Exemption from Zakat (on submission of Affidavit)