The Pakistan Credit Rating Agency (Pacra) has assigned a 4-Star fund rating to Atlas Income Fund (AIF), which reflects a good performance relative to its peers.
The rating is a composite measure of three factors, namely a) returns, b) risk associated with the returns measured by Sharpe Ratio, and c) credit quality of the assets.
AIF, an open-ended scheme, was established under a trust deed executed on February 20, 2003, with Atlas Asset Management Limited (AAML) as the management company. Presently, the Central Depository Company of Pakistan Limited (CDC) is the trustee.
The objective of AIF is to provide investors one-window facility to invest in diversified portfolio, offering good returns and consistent growth.
The Fund aims to deliver this objective mainly by investing in CFS, spread transactions, debt securities, money market instruments, and government securities.
Atlas Asset Management Limited (AAML), sponsored by the Atlas Group, was incorporated on August 20, 2002. Atlas Group, established in 1962, is one of the well-known business groups of the country with strong presence in manufacturing, finance and trading sectors.
Over a span of 44 years, the group has diversified into various industrial and service-oriented businesses. Though each company within the group works independently, the overall strategic direction of the group is set by the Group Executive Committee. Shirazi Investments (Pvt) Limited, the parent company of the asset manager, holds 88 percent of the total shareholding.
AAML has an asset manager rating of 'AM3+', which reflects the company's strong capacity to manage the risks inherent in asset management. The Chief Executive of AAML, Habib-ur-Rahman, is a chartered accountant with extensive exposure to the financial sector and played a pivotal role in establishing the first asset management company in the private sector.
The fund manager of AIF is Masters in Mathematics and also holds a postgraduate diploma in Finance and Economics with 9 years of experience in financial and capital markets of Pakistan.
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