Atlas Asset to launch Islamic Income Fund

KARACHI: Atlas Asset Management Limited (AAML) will launch Atlas Islamic Income Fund (AIIF) soon. According to a company’s statement, AIIF will be AAML’s fourth open-end mutual fund and fifth overall.

It said, “the main objective of AIIF would be to offer investors Shariah compliant investment avenues, which would provide a consistent stream of income with long-term capital preservation.”

He said that the Fund would realise objectives by investing in Shariah compliant debt instruments of entities with minimum rating of A minus (A-). These debt instruments will include certificate of investments, bank deposits, placement of funds under Mudarabah, Musharikah and Murabahah Shariah-Compliant instruments, Sukuks and contracts, securities, issued by companies, organisations and establishments. staff report