The Pakistan Credit Rating Agency (PACRA) has assigned a 4-Star rating to Atlas Fund of Funds (Category: Balanced Fund), which reflects good performance relative to its peers. The rating is a composite measure of two factors namely a) returns, and b) risk associated with the returns measured by Sharpe Ratio.

About the fund: AFoF, a closed-end scheme, was established under a Trust Deed executed on May 29, 2004 with Atlas Asset Management Limited (AAML) as the management company and Central Depository Company of Pakistan Limited (CDC) as a trustee. The objective of AFoF 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 closed-end mutual funds, open-ended mutual funds, money market instruments or in deposits with scheduled banks.

About the Asset Manager: Atlas Asset Management Limited (AAML), sponsored by the Atlas Group, was incorporated in August 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. 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% 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 company is catering to different investment objectives of a diverse client base. Currently, the company is managing three funds with assets under management of more than PKR 4.8bln as at May 31, 2006. AAML, in addition to AFoF, manages two open-end funds namely, Atlas Income Fund and Atlas Stock Market Fund.