Atlas Islamic Income Fund
The Fund actively manages a diversified portfolio of Shariah compliant income securities (including Shariah compliant Government Securities). Shariah compliant placements are executed with a bank or DFI in debt instruments not lower than A- (A minus) rating. At least 25% of the net assets are invested in cash and near cash instruments with less than 90 days maturity.
|Fund Launch Date||:||October 14, 2008|
|Category||:||Shariah Compliant Income|
|Dealing Days||:||Monday to Friday|
|Cut Off Timings||:||9:00 a.m. to 4:00 p.m.|
|Front End Load||:||Nil|
|Pricing Mechanism||:||Forward Pricing|
Up to 0.55% (min 0.20) of Average Annual Net Assets
Actual Rate of Management Fee will be disclosed in Monthly FMR
|Expense Ratio Limit||:||Upto 2.5% (including Management Fee) of Average Annual Net Assets|
|Fund Risk Profile||:||Medium|
|Rating||:||AA-(f) (PACRA) (as on 14-October-2022)|
|Listing||:||Pakistan Stock Exchange|
|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/-|
|Shariah Advisor||:||Dr. Mufti Hassan Ashraf Usmani|
|Benchmark||:||Six (6) months average deposit rates of three (3) “A” rated scheduled Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP|
- Riba free returns.
- Guidelines of authentic Shariah Advisor.
- Online access to individual accounts.
- Shariah Compliant avenue of investment for individuals, corporate clients and retirement schemes.
- Shariah Compliant investment plans available.
- Professional Fund Management Expertise.
- Required minimum investment as low as Rs. 5,000.
- Easy withdrawal of money.
- No minimum holding period.
- Risk Diversification.
- Exemption from Zakat (on submission of Affidavit).