Systematic Payout & Systematic Withdrawal Plan/Option
a) Shariah Compliant manner by investing in units of Atlas Islamic Income Fund (AIIF) and
b) Conventional manner by investing in units of Atlas Income Fund (AIF) or Atlas Money Market Fund (AMF).
The Income Plan Subscriber may also select a Systematic Investment Plan (SIP) through which the investor may invest predetermined amounts on a monthly or a quarterly basis. The Subscriber may also alter this monthly/quarterly amount, provided that such amount is not less than the minimum amount fixed by the Management Company from time to time. The Subscriber shall send in the monthly/ quarterly contributions under the SIP under the cover of the prescribed form
|Dealing Days||:||Monday to Friday|
|Minimum Investment||:||Rs. 5,000/-|
|Frequency of Investments||:||Monthly/Quarterly (Recommended)|
|Frequency of Payout/Withdrawal||:||Monthly/Quarterly/Semi-annually/Annually|
|Payment to||:||“CDC-Trustee Atlas Islamic Income Fund” or
“CDC-Trustee Atlas Income Fund” or
“CDC-Trustee Atlas Money Market Fund”
|Shariah Advisor||:||Dr. Mufti Hassan Ashraf Usmani|
a) If the value of investment increases during an interval, the Systematic Payout option calculates the number of units to be redeemed for the purpose of distribution of income in such a manner that the total redemption value of such units is equal to the increase in the value of investment during that interval, which means that the profit earned on the respective units due to increase in NAV would be paid back to the investors, after deduction of capital gains tax, if applicable.
b) If the value of investment of the Plan falls due to decline in NAV of the units of the Fund during an interval, the Systematic Payout option will not redeem any units and no income would be paid at the end of that interval as there would not be any profits for payment.
It may be noted that the initial amount invested may deplete in case sufficient returns are not earned to cover the amount distributed to the investor.