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Atlas Islamic Fund of Funds

Atlas Islamic Fund of Funds (AIFOF) was established by a Trust Deed dated 3rd September, 2018, between Atlas Asset Management Limited (AAML) as Management Company and Central Depository Company of Pakistan Limited (CDC) as Trustee.

To provide unit holders an opportunity to earn potentially high returns through investment as per respective Allocation Plans by investing in Shariah Compliant Fixed Income and Money Market Schemes along with Equity based Collective Investment Schemes.

The Scheme shall offer following Allocation Plans, namely; Atlas Aggressive Allocation Islamic Plan, Atlas Moderate Allocation Islamic Plan, Atlas Conservative Allocation Islamic Plan, Atlas Islamic Capital Preservation Plan I, Atlas Islamic Dividend Plan and Atlas Islamic Capital Preservation Plan – II. The underlying allocation to Fixed Income, Money Market and Equity Mutual Funds shall be fixed and the indicative percentages are stated below:

Allocation Plans under Atlas Islamic Fund of Funds

Indicative Minimum percentage allocation invested in Collective Investment Scheme(s)

Name of Allocation Plans

Cash & Near
Cash*

Dedicated Shariah Compliant Equity Schemes

Shariah Compliant
Income Schemes

Shariah Compliant
Money Market Schemes

Atlas Aggressive Allocation Islamic Plan

Up to 10%

Minimum 65%

Up to 25%

Up to 25%

Atlas Moderate Allocation Islamic Plan

Up to 10%

Minimum 45%

Up to 45%

Up to 45%

Atlas Conservative Allocation Islamic Plan

Up to 10%

Minimum 20%

Up to 70%

Up to 70%

Atlas Islamic Dividend Plan (AIDP)***

Minimum 10%

N/A

Up to 90%

Up to 50%

Atlas Islamic Capital Preservation Plan – II (AICPP-II)

Up to 100% with Min AA- Rating**

Up to 50%

Up to 100%

Up to 100%

* 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, Six months average deposit rates of three (3)-A rated Islamic Banks or Islamic windows and Three (3) months average deposit rates of Three (3) AA rated Islamic Banks or Islamic windows of conventional bank as Selected by MUFAP based on the actual proportion of investment in Equity, Income and Money Market Schemes by the respective allocation Plan.

  • 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)

Disclaimer: All investments in mutual fund are subject to market risks. The investors are advised in their own interest to carefully read the contents of Offering Documents in particular of the Investment Policies mentioned in clause 2, Risk Factors mentioned in clause 2.13 and Warnings in clause 9 before making any investment decision.