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Atlas Islamic Money Market Fund

Atlas Islamic Money Market Fund (AIMF) was established by a Trust Deed dated September 17, 2020, between Atlas Asset Management Limited, as Management Company and Central Depository Company of Pakistan Limited (CDC), as Trustee.
The objective of Atlas Islamic Money Market Fund (AIMF) is to provide competitive return to its investors (with a periodic payout) by investing in low risk, highly liquid and short duration portfolio consist of Shariah Compliant money market instruments.
The Fund invests in Shariah Compliant money market instruments with a maximum time to maturity of six months for any asset whereas, weighted average time to maturity of the fund cannot exceed 90 days. This is intended to reduce risk while maintaining liquidity. The Fund’s investment strategy is based on fundamental credit analysis of counterparties. The Fund primarily invests in short term government securities/bank deposits and other short term money market instruments subject to such exposure limits as are specified in the Rules, the Regulations and directives issued by SECP from time to time. The Fund will make periodic payout to the unit holders, which shall be reinvested.
Fund Launch Date : January 7, 2021
Type : Open-ended
Category : Islamic Money Market
Dealing Days : Monday to Friday
Cut Off Timings : 9:00 a.m. to 4:00 p.m.
Front End Load : Nil
Payout Frequency : Dividend payout on periodic basis (i.e. Daily, Weekly, Monthly, Quarterly and Yearly) will be distributed to the unit holder(s).
Management Fee : Current level of Management Fee is 0.05% of Average Annual Net Assets
Expense Ratio Limit : Upto 2% (including Management Fee) of Average Annual Net Assets
Fund Risk Profile : Low
Rating : AA(f) (PACRA) (as on 21-April-2021)
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, Chartered Accountants
Shariah Advisor : Dr. Mufti Hassan Ashraf Usmani
Benchmark : Three (3) months average deposit rates of Three (3) AA rated Islamic Banks or Islamic windows of conventional bank as Selected by MUFAP
Atlas Islamic Money Market Fund is a Shariah Compliant avenue of investment in mutual funds suitable for individuals, corporate clients and retirement schemes ranging from a short to long term investment.
  • Riba free returns
  • Guidelines of authentic Shariah Advisor
  • 20% Tax Credit as per Section 62 of the Income Tax Ordinance 2001
  • Online access to individual accounts
  • 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)