fmr - april 2021 · 2021. 5. 17. · april 2021 atlas money market fund (amf) investment committee...

*As o

f 28th

Jun

e, 2

019

April 2021

As of 24th December 2020

TABL

E O

F C

ON

TEN

TSMarket Review 01

Atlas Money Market Fund 02

Atlas Sovereign Fund 03

Atlas Income Fund 04

Atlas Stock Market Fund 05

Atlas Islamic Income Fund 06

Atlas Islamic Money Market Fund 07

Atlas Islamic Stock Fund 08

Atlas Islamic Dedicated Fund 09

Atlas Islamic Fund of Funds 10

Atlas Pension Fund 11

Atlas Pension Islamic Fund 13

On The Stock Market FrontSector Performance - April 2021

KSE 100 Index & Shares Turnover

On The Money Market Front

6 Months KIBOR vs 6 Months T-Bills

The benchmark KSE-100 index decreased by 0.73% (-325.50 points) to closeat 44,262.35 points in April’21. Daily average trading volumes decreased by19.39% MoM to 354 Mn shares in April’21 from 439 Mn shares in March’21.Other Organization, Individuals, Broker Proprietary Trading and Mutual Fundswere net buyers of USD 21mn, USD 7mn, USD 5mn and USD 5mn,respectively. Foreign Investors, Companies, Banks and Insurance Companieswere net sellers of USD 17mn, USD 13mn, USD 4mn and USD 3mn,respectively.

Sectors that outperformed benchmark KSE-100 index were Fertilizer,Chemical and Commercial Banks yielding 1.7%, 1.7% and 1.4% returns,respectively. Cement, Automobile Assembler, Engineering, Oil & GasExploration Companies and Power Generation & Distributionunderperformed the benchmark index yielding -1.3%, -4.0%, -6.8%, -6.9% and-8.0% returns, respectively. Fertilizer sector outperformed benchmark indexdue to increased profitability on the back of high Urea sales and inventorygains on DAP. Chemical sector outperformed KSE-100 index due toconsistently high international margins. Power Generation & Distributionsector underperformed benchmark index primarily due to delay in paymentby Government of Pakistan to Independent Power Producers as part ofagreement sought to clear Rs. 450 billion outstanding dues of power sector.

Currently, the market is trading at a P.E multiple of 7.0x and has a dividendyield of 6.0%.

The CPI inflation increased by 11.1% YoY for the month of April’21 on newbase of 2015-16. While on a monthly basis, CPI increased by 1.0% MoM. Theincrease in CPI was mainly attributable to rise in prices of Perishable & Non-Perishable Food, Housing, Water, Electricity, Gas, Fuel, Clothing andFootwear related items.

Additionally, M2 experienced an increase of 6.18% during July 01, 2020 toApril 23, 2021 as compared to an increase of 8.21% during the previouscorresponding period. The latest report shows that government matured Rs.1,565 billion to SBP, as compared to maturities of Rs. 736 billion incorresponding period last year, whereas, government borrowed Rs. 1,792billion from scheduled banks as compared to borrowings of Rs. 1,737 billionin corresponding period last year.

The Central Bank raised an amount of Rs. 1,550 billion under the two T-billauction conducted during the month. The weighted average yields underthe latest auction stood at 7.38% for 3 months T-bills, 7.65% for 6 months T-bills and bids were rejected for 12 months T-bills. During April’21, the 6months KIBOR (offer) decreased by 24 bps to 7.64% compared to previousmonth and averaged at 7.77%.

42,000.00 42,500.00 43,000.00 43,500.00 44,000.00 44,500.00 45,000.00 45,500.00 46,000.00

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VOLUME 100 INDEX

-12.9%-9.1%

-8.0%-6.9%-6.8%

-5.8%

-4.0%-2.3%

-1.3%-1.1%

-0.1%0.1%

0.6%1.4%1.7%1.7%

-15% -10% -5% 0% 5%

TOBACCOREFINERY

POWER GENERATION & DISTRIBUTIONOIL & GAS EXPLORATION COMPANIES

ENGINEERINGOIL & GAS MARKETING COMPANIES

AUTOMOBILE ASSEMBLERINSURANCE

CEMENTPHARMACEUTICALS

TECHNOLOGY & COMMUNICATIONFOOD & PERSONAL CARE PRODUCTS

TEXTILE COMPOSITECOMMERCIAL BANKS

CHEMICALFERTILIZER

7.40

7.50

7.60

7.70

7.80

7.90

8.00

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6M KIBOR 6M T-Bills

Source: State Bank of Pakistan

Source: Pakistan Stock Exchange


01DISCLAIMER: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in mutual fund are subject to market risks. Past performance is not necessarily indicative of the future results. Please read the Offering Document to understand the investment policies and the risks involved.

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Market ReviewApril 2021











42,000.00 42,500.00 43,000.00 43,500.00 44,000.00 44,500.00 45,000.00 45,500.00 46,000.00

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VOLUME 100 INDEX

-12.9%-9.1%

-8.0%-6.9%-6.8%

-5.8%

-4.0%-2.3%

-1.3%-1.1%

-0.1%0.1%

0.6%1.4%1.7%1.7%

-15% -10% -5% 0% 5%

TOBACCOREFINERY







CHEMICALFERTILIZER

7.40

7.50

7.60

7.70

7.80

7.90

8.00

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6M KIBOR 6M T-Bills




April 2021

Atlas Money Market Fund (AMF)

Investment Committee

02 DISCLAIMER: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund. All investments in mutual fund are subject to market risks. Past performance is not necessarily indicative of the future results. Please read the Offering Document to understand the investment policies and the risks involved.

M. Abdul SamadChief Executive Officer

Ali H. ShiraziDirector

Khalid MahmoodChief Investment Officer

Muhammad Umar KhanHead of Portfolio Management

Fawad JavaidHead of Fixed Income

Faran Ul HaqHead of Equities

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Dispute Resolution/ Complaints Handling: Investors may lodge their complaints to our Investor Services Department through any of the following options where our dedicated staff is available to provide assistance: Ph: (021)111-688-825 Ext: 233, Email: [email protected] or submit through our Website https://www.atlasfunds.com.pk/investor-help-desk/. In case your complaint has not been properly redressed by us, you may lodge your complaint with SECP at the link https://sdms.secp.gov.pk/ . However, please note that SECP will entertain only those complaints which were at first directly requested to be redressed by the Company and the Company has failed to redress the same. Further, the complaints that are not relevant to SECP’s regulatory domain/competence shall not be entertained by the SECP.

Investment Objective Fund FactsTo provide stable income stream with preservation of capital by investing in AA and above rated Fund Type Open-endedbanks and short term Government Securities. Category Money Market Scheme

Launch Date 21-Jan-10Asset Mix* Net Assets (mn) (at month end)

Leverage & Maturity Profile NAV (at month end)T-Bills Leverage: Benchmark(BM) 70/30 composition of:

Weighted average time to Cash maturity of the Net assets (Days)

Others incl. receivablesDealing Days Monday to FridayCut Off timingsPricing mechanism Forward PricingTotal Expense Ratio 0.67% - annualized (Incl Govt Levy)

* % of Gross Asset Govt Levy 0.21% rep Gov levy, WWF & SECP FeeManagement Fee

Asset Allocation (% of Total Assets ) Nov-14 Credit Quality of the Portfolio (% of Total Assets ) Nov-14

Front End Load NilTrustee Central Depository Company Ltd.Registrar ITMinds Limited

Auditor EY Ford RhodesAsset Manager Rating AM2+(PACRA) (As on 24-Dec-2020)Risk Profile of the Fund: Very Low (As on 04-May-2017)

Fund Stability Rating : AA+(f) (PACRA) (As on 16-Apr-21)

Yearly Performance* Payout History

0

* Interim Dividend

*Annualized Return*Funds returns computed on NAV to NAV with the dividend reinvestment,if any.

Trailing Performance

Returns* 7.10% 6.93% 6.74% 45.86% 156.46% 8.71%Benchmark 6.77% 6.74% 6.69% 41.70% 142.48% 7.89%

*Annualized Return ** CAGR Since Inception *** 3Y and 5Y returns are till FY20

Monthly Performance History *Annualized return: (Absolute return) *(365/No. of days)Year Dec Jan Feb Mar Apr May

2020-2021 6.91% 6.75% 6.97% 7.10%2019-2020 13.23% 12.69% 13.22% 15.52% 7.13%

Marketing & Selling Expense Nil

Back Office Fee PKR 2,693,091

The management company, as a matter of prudence and asrecommended by MUFAP, made provision in respect of SWWF witheffect from the date of enactment of the SWWF Act, 2014 (i.e. startingfrom 21 May 2015) on 12 January 2017. Accordingly, the provision forSWWF is being made on a daily basis going forward. Up till April 30,2021, a sum of Rs. 86,453,341 (Rs. 2.58 per unit) has been provided forSWWF.

12.42%5.97%

12.33%6.61%

12.60%5.88% 6.51% 6.66% 6.38%

13.12% 13.37% 11.82%

The Finance Act, 2013 imposed Federal Excise Duty (FED) on financialservices to include Asset Management Companies (AMC’s) with effectfrom 13th June, 2013. On September 04, 2013 a constitutional petitionhas been filed in Sindh High Court (SHC) jointly by various AMC`s,challenging the levy of FED. In a separate petition the Honorable SindhHigh Court declared that the FED was unconstitutional and cannot becharged where provinces are collecting sales tax. The Federation hasfiled an appeal in the Honorable Supreme Court of Pakistan Further, viaFinance Act 2016, the FED has been withdrawn from July 1, 2016. In themeantime, as a matter of abundant caution, the Scheme has heldprovision for FED liability which amounted to Rs.20,428,502 up till June 30,2016. (Rs.0.61 per unit as on April 30, 2021)

CAGR **5 Years ***

Jun YTD6.74%

7.90% 12.81%

29.60%

(% on Opening NAV)

Since Inception

Oct Nov

YTD

6.95%6.88%

27.92%

3 Years ***

6.69%6.94%

Jul Aug Sep

0.29%

Apr-21 Mar-21

20.61%

76.55%

66.83%

32.88%

Nil

41.88

AMF

2.84%

PKR 16,982PKR 506.26

Actual rate of management fee chargedis 0.25% of Average Annual Net Assets

70% three months PKRV rates; and 30% three (3) months average deposit rate of three (3) AA rated Scheduled Banks as selected by MUFAP.

Mon - Fri : 9:00 am to 04:00 pm

30 Days(1 Month)

90 Days 180 Days 365 Days(1 Year)

10.66%

8.75%7.96% 8.36%

6.60%5.99%

5.38%

8.47%

11.73%

5.27%

0%

2%

4%

6%

8%

10%

12%

14%

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

6.02% 6.14%5.49%

8.87%

12.81%

6.74%5.76%

5.20% 5.36%

8.74%

11.66%

6.69%

0%

2%

4%

6%

8%

10%

12%

14%

2016 2017 2018 2019 2020 YTD

RETURN BENCHMARK

*

T-Bills, 66.83%

Cash, 32.88%

Others incl. receivables, 0.29% AAA, 0.02%

AA+, 33.15%

Govt Securities, 66.83%

Sindh Workers' Welfare Fund (SWWF)

Federal Excise Duty (FED)

*











42,000.00 42,500.00 43,000.00 43,500.00 44,000.00 44,500.00 45,000.00 45,500.00 46,000.00

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VOLUME 100 INDEX

-12.9%-9.1%

-8.0%-6.9%-6.8%

-5.8%

-4.0%-2.3%

-1.3%-1.1%

-0.1%0.1%

0.6%1.4%1.7%1.7%

-15% -10% -5% 0% 5%

TOBACCOREFINERY







CHEMICALFERTILIZER

7.40

7.50

7.60

7.70

7.80

7.90

8.00

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6M KIBOR 6M T-Bills




April 2021

Atlas Sovereign Fund (ASF)

Investment Objective Fund FactsFund Type Open-endedCategory Income SchemeLaunch Date 1-Dec-14

Asset Mix* Net Assets (mn) (at month end)Leverage & Maturity Profile NAV (at month end)

T-Bills Leverage: Benchmark(BM) Average 6 Months PKRV ratesWeighted average time to Dealing Days Monday to Friday

PIB maturity of the Net assets (Days)Cut Off timings

Pricing mechanism Forward PricingCash Total Expense Ratio 1.16% - annualized (Incl Govt Levy)

Govt Levy 0.23% rep Gov levy, WWF & SECP FeeCommercail Paper Management Fee

Others incl. receivables* % of Gross Asset

Credit Quality of the Portfolio (% of Total Assets ) Jan-00Nil

Trustee Central Depository Company Ltd.Front End Load NilTrustee Central Depository Company Ltd.Registrar ITMinds LimitedAuditor A. F. Ferguson & Co.Asset Manager Rating AM2+(PACRA) (As on 24-Dec-2020)

Risk Profile of the Fund: MediumFund Stability Rating AA-(f) (PACRA) (As on 16-Apr-21)


*Annualized Return*Funds returns computed on NAV to NAV with the dividend reinvestment,if any.


Returns* 12.26% 7.64% 6.07% 54.60% 70.23% 8.64%Benchmark 7.59% 7.56% 7.24% 43.64% 61.43% 7.49%

*Annualized Return ** CAGR Since Inception ***3Y and 5Y returns are till FY20


2020-2021 6.46% 2.21% 7.13% 12.26%2019-2020 13.40% 9.34% 38.67% 36.77% 3.01%

Upto 10% of the Gross Earnings subject to aminimum fee of 0.60% of average daily NetAssets and maximum fee of 1.0% of averageAnnual Net Asset. (Actual rate of management fee charged is0.67% of Average Annual Net Assets)

30 Days(1 Month)

0.00%

90 Days 180 Days 365 Days

(1 Year)

(% on Opening NAV)


The Finance Act, 2013 imposed Federal Excise Duty (FED) on financialservices to include Asset Management Companies (AMC’s) witheffect from 13th June, 2013. On September 04, 2013 a constitutionalpetition has been filed in Sindh High Court (SHC) jointly by variousAMC`s, challenging the levy of FED. In a separate petition theHonorable Sindh High Court declared that the FED wasunconstitutional and cannot be charged where provinces arecollecting sales tax. The Federation has filed an appeal in theHonorable Supreme Court of Pakistan Further, via Finance Act 2016,the FED has been withdrawn from July 1, 2016. In the meantime, as amatter of abundant caution, the Scheme has held provision for FEDliability which amounted to Rs.905,341 up till June 30, 2016. (Rs.0.04 perunit as on April 30, 2021)

Marketing & Selling Expense

Back Office Fee PKR 299,279

CAGR **

9.70%6.15%

Jul Aug Sep Oct Nov

11.71% 14.93% 20.20% 23.60% 9.03% 10.83%3.21%

Apr-21 Mar-21

Asset Allocation (% of Total Assets )

46.89% 52.06%

39.12%1.52%

1.10%

1.08%

8.03%

PKR 2,170ASF PKR 106.05Nil

651.13Mon - Fri : 9:00 am to 04:00 pm

29.07%6.33% 6.17% 33.59%

Since InceptionYTD 3 Years *** 5 Years ***

18.08%

To provide unit-holders competitive returns with medium risk and high liquidity by investing in Government Securities and Debt Instruments.

Jun YTD6.07%4.68% 3.96% 8.94%4.30%

49.41%

0.79%

7.33%7.38%

*

T-Bills, 49.41%

PIB, 46.89%

Cash, 1.52%

Commercail Paper, 1.10%

Others incl. receivables,

1.08%

AA, 1.10%AAA, 0.14%

AA+, 2.46%

Government Securities, 96.30%

5.75%

9.49%

4.34%

7.48%

17.44%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

2016 2017 2018 2019 2020

9.38%

5.00%

7.71%

18.08%

6.07%

5.26% 5.36%

9.31%

12.08%

7.24%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

2017 2018 2019 2020 YTDRETURN BENCHMARK



Investment Committee M. Abdul Samad

Chief Executive OfficerAli H. Shirazi

DirectorKhalid Mahmood

Chief Investment OfficerMuhammad Umar Khan

Head of Portfolio ManagementFawad Javaid

Head of Fixed IncomeFaran Ul Haq

Head of Equities

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April 2021

Atlas Income Fund (AIF)









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Fund FactsInvestment Objective Fund Type Open-endedTo earn a competitive return while preserving capital by investing in good quality corporate debt Category Income Scheme instruments, bank deposits and government securities. Launch Date 22-Mar-04

Net Assets (mn) (at month end)NAV (at month end)

Asset Mix* Leverage & Maturity Profile Benchmark(BM) Average 6 Months KIBOR (Ask)T-Bills Leverage: Dealing Days Monday to Friday

PIB Weighted average time to Cut Off timings

TFCs/Sukuks maturity of the Net assets (Days) Pricing mechanism Forward PricingMTS Total Expense Ratio 1.75% - annualized (Incl Govt Levy)Spread Transactions Govt Levy 0.3% rep Gov levy, WWF & SECP Fee

Others incl. receivablesManagement Fee

CashCommercial Paper Nil* % of Gross AssetTFC/Sukuk Holding (% of Total Assets ) Jan-00 Credit Quality of the Portfolio (% of Total Assets ) Jan-00 Front End Load Nil

Trustee Central Depository Company LtdHub Power Co. Ltd. ITMinds LimitedAskari Bank - 7 EY Ford RhodesSamba Bank Asset Manager Rating AM2+(PACRA)Bank of Punjab Risk Profile of the Fund: MediumMeezan Bank Sukuk Fund Stability Rating : Soneri Bank

Non-Compliant Investment

Investment

Issuers

Agritech Limited SukukAgritech Limited PPTFCAgritech Limited TFC - IVAgritech Limited TFC IIAzgard Nine Limited TFCAzgard Nine Limited TFC-VTelecard Limited TFC

Yearly Performance Payout History (% on Opening NAV) Investment Plans

AIFWeight 85%Weighted Av. Return (2020-21) 10.9%Weighted Av. Return (2019-20) 14.5%Weighted Av. Return (2018-19) 3.41%Weighted Av. Return (2017-18) 3.38%

*Annualized Return Atlas Bachat Balanced Plan AIFWeight 50%Weighted Av. Return (2020-21) 19.9%

*Annualized Return Weighted Av. Return (2019-20) 10.4%*Funds returns computed on NAV to NAV with the dividend reinvestment,if any. Weighted Av. Return (2018-19) -5.8%

Weighted Av. Return (2017-18) 0.04%Trailing Performance Atlas

Bachat AIFWeight 15%

Returns* 9.41% 7.19% 7.09% 49.13% 322.84% 8.79% Weighted Av. Return (2020-21) 28.9%Benchmark 7.77% 7.72% 7.38% 48.76% 371.53% 9.70% Weighted Av. Return (2019-20) 6.37%

*Annualized Return ** CAGR Since Inception *** 3Y and 5Y returns are till FY20 Weighted Av. Return (2018-19) -15%Weighted Av. Return (2017-18) -3.3%


2020-2021 4.30% 4.17% 7.84% 9.41%2019-2020 14.25% 14.04% 25.29% 27.92% 5.38%

(81,625,501)



Apr-21 Mar-21 AIF

8.55% 6.14%7.10% 6.75%

6.61% 1.10%

49.28% 13.49% Nil

15.06% 20.18%483.289.71% 11.95%

Actual rate of management fee charged is 1.0 % of Average Annual Net Assets

1.72% 2.12%1.17%

(29,976,000)

AA-(f) (PACRA) (As on 16-Apr-21)

% of Net/Gross AssetsSuspended Mark up (fully

provided)Value after provisionProvision HeldValue before provision

42,339,917

The Finance Act, 2013 imposed Federal Excise Duty (FED) on financialservices to include Asset Management Companies (AMC’s) witheffect from 13th June, 2013. On September 04, 2013 a constitutionalpetition has been filed in Sindh High Court (SHC) jointly by variousAMC`s, challenging the levy of FED. In a separate petition theHonorable Sindh High Court declared that the FED wasunconstitutional and cannot be charged where provinces arecollecting sales tax. The Federation has filed an appeal in theHonorable Supreme Court of Pakistan Further, via Finance Act 2016,the FED has been withdrawn from July 1, 2016. In the meantime, as amatter of abundant caution, the Scheme has held provision for FEDliability which amounted to Rs.23,582,971 up till June 30, 2016. (Rs.2.57per unit as on April 30, 2021)

- - 7,494,000

-

15,225,000 (15,225,000)

0.82%0.67%

4,668,990


Type(Secured)

-

The Income scheme holds certain non-compliant investments. Before making any investment decision,investors should review this document and latest Financial Statements.

16.26%10.77% 15.24% 18.28% 19.54% 10.45% 13.28%2.75% 9.00% 15.09% 6.42% 6.22% 4.00% 7.09%

7.69%

YTDJul Aug Sep Oct Nov

7.07%

3.35%

ASMF15%

Atlas Bachat Plan

Jun

7.54% 7.46% 31.62%

3 Years ***85%

(11,015,000) - (7,494,000) -

-

CAGR **5 Years ***

30.86%6.08%

30 Days(1 Month)

ASMF50%

ASMF

3.42%

YTD Since Inception

10,849,034

- 1,961,711 (4,668,990)

90 Days 180 Days 365 Days(1 Year)

2.77%AuditorRegistrar

2.72%

81,625,501

PKR 5,046

- - 7,871,511 (7,871,511) - - 9,007,430

- 5,375,000 (5,375,000) -

- 22,175,966 29,976,000

Mon - Fri : 9:00 am to 04:00 pm

- - 86,334,058

11,015,000

0.43% 0.00%3.26% 40.39%

(As on 24-Dec-2020)0.95%0.88% 1.08%

PKR 550.23

These are allocations between AIF and ASMF aiming at acustomized investment approach to the investors to meet theirpersonal goals and preferences.

Govt Securities, 64.33%Non Rated, 15.64%

AA, 4.04%

AA-, 2.71% AAA, 0.06% AA+, 12.55% A+, 0.67%

9.99%9.47%

6.74%

9.33%

7.60%

5.74%

8.96%8.19%

10.92%

8.00%

5.28%4.69%

7.12%

15.10%

0%

2%

4%

6%

8%

10%

12%

14%

16%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

8.02

5.48 4.82

7.33

16.26

7.09

8.97

6.53 6.10 6.35

12.28

7.38

0%2%4%6%8%

10%12%14%16%18%

2016 2017 2018 2019 2020 YTD

RETURN BENCHMARK



April 2021

Atlas Stock Market Fund (ASMF)

Investment Objective Fund FactsTo provide long term capital growth from an actively managed portfolio invested in listed companies Fund Type Open-endedin Pakistan. Category Equity Scheme

Launch Date 23-Nov-04Net Assets (mn) (at month end)

Asset Mix* Leverage Profile ASMF NAV (at month end)Equities Leverage: Nil Benchmark KSE-100 Index

Dealing Days Monday to Friday

Others incl. receivables Cut Off timings


Govt Levy 1.02% rep Gov levy, WWF & SECP Fee

Management Fee

* % of Gross AssetNil

Yearly Performance Payout History (% on Opening NAV)

Front End Load Upto 2% * Trustee Central Depository Company Ltd.

Registrar ITMinds LimitedAuditorAsset Manager RatingRisk Profile of the Fund: High

*Funds returns computed on NAV to NAV with the dividend reinvestment,if any.

Sector Allocation % of Total Assets Top 10 Holding % of Total Assets SectorCommercial Banks 23.27 Cement 15.20 Lucky Cement Limited 6.98Oil & Gas Exploration 11.18 United Bank Limited 6.93Fertilizer 7.88 Habib Bank Limited 6.55Power Generation & Distribution 7.65 Hub Power Company Limited 5.11Others 32.92 Engro Corporation Limited 4.96

Mari Petroleum Co. Ltd 4.32Meezan Bank Limited 4.17Oil & Gas Development Co. Ltd 3.58Pakistan State Oil Co. Ltd 3.16TRG Pakistan Limited 2.35


Returns* -1.49% -4.55% 32.70% 13.65% 831.11% 14.53%Benchmark -0.73% -4.58% 28.59% 0.07% 702.66% 13.50%

*Actual Returns - Not Annualized ** CAGR Since Inception *** 3Y and 5Y returns are till FY20

Monthly Performance HistoryYear Dec Jan Feb Mar Apr May

2020-2021 6.36% 5.87% -2.88% -1.49%2019-2020 3.71% 3.06% -23.8% 20.27% -0.80%

Note: Performance data does not include the cost incurred directly by an investor in the form of sales load etc.

AM2+(PACRA) (As on 24-Dec-2020)

0.71% 0.24%

Actual rate of management fee charged is2.4% of Average Annual Net Assets

EY Ford Rhodes

Marketing & SellingExpense

Back Office Fee PKR 2,233,631

98.10% 97.30%

1.19% 2.46%

PKR 9,244Apr-21 Mar-21 PKR 685.70

Mon - Fri : 9:00 am to 04:00 pm

Apr-21

14.60 Cement11.54 Commercial Banks

Scrip % SectorsMar-2122.55

Tech & Comm

Commercial Banks

Oil & Gas Exploration

32.83 Fertilizer

Oil & Gas Exploration

7.15 Commercial Banks8.63 Power Gen & Dist

Oil & Gas Marketing

5 Years ***

11.45% 33.08% -19.11%

30 Days(1 Month)

90Days

180 Days

365 Days(1 Year) YTD 3 Years ***

Since Inception CAGR **

-5.45% -8.80% 9.09% 7.85% 14.72% -8.49%

Jun15.57% 6.04% -1.56% -1.30% 3.68% -0.22%

10.97% 29.76% -26.08%

Jul Aug Sep Oct Nov


1.09% 4.62%

YTD32.70%

* On amount less than or equal to Rs.25 Mn. However, in case wheretransactions are done online or through the website, the maximum front-endload will be up to 1.5%.

The Finance Act, 2013 imposed Federal Excise Duty (FED) on financialservices to include Asset Management Companies (AMC’s) with effectfrom 13th June, 2013. On September 04, 2013 a constitutional petitionhas been filed in Sindh High Court (SHC) jointly by various AMC`s,challenging the levy of FED. In a separate petition the Honorable SindhHigh Court declared that the FED was unconstitutional and cannot becharged where provinces are collecting sales tax. The Federation hasfiled an appeal in the Honorable Supreme Court of Pakistan Further, viaFinance Act 2016, the FED has been withdrawn from July 1, 2016. In themeantime, as a matter of abundant caution, the Scheme has heldprovision for FED liability which amounted to Rs.20,301,988 up till June30, 2016. (Rs.1.51 per unit as on April 30, 2021)

For Investment Plans please refer to AIF on pre-page.

36.13%

18.86%

11.54%

0.95%2.98% 2.08%

0%

5%

10%

15%

20%

25%

30%

35%

40%

2013 2014 2015 2016 2017 2020

5.05%

33.74%

-4.75%

-18.83%

4.62%

32.70%

9.84%

23.24%

-10.00%

-19.11%

1.53%

28.59%

-30%

-20%

-10%

0%

10%

20%

30%

40%

2016 2017 2018 2019 2020 YTDRETURN BENCHMARK



Commercial Banks , 23.27

Cement , 15.20

Oil & Gas Exploration ,

11.18Fertilizer , 7.88

Power Generation & Distribution ,

7.65

Others , 32.92







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High

Atlas Islamic Income Fund (AIIF)









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Fund FactsFund Type Open-ended

Investment Objective Category Islamic Income SchemeTo seek preservation of capital and reasonable rate of return from a broadly diversified portfolio Launch Date 14-Oct-08of long, medium and short term, high quality Islamic income instruments. Net Assets (mn) (at month end)

Asset Mix* Leverage & Maturity Profile AIIF NAV (at month end)Cash Leverage: Nil BenchmarkIjarah Sukuks Weighted average time to Sukuk maturity of the Net assets (Days) 439.13Commercial PaperBai Muajjal Dealing Days Monday to Friday


Pricing mechanism Forward Pricing* % of Gross Asset Total Expense Ratio 0.92% - annualized (Incl Govt Levy)


Sukuk Holding (% of Total Assets ) Jan-00 Credit Quality of the Portfolio (% of Total Assets ) Jan-00 Management Fee

Hub Power Holding Co. NilHub Power Co. Ltd. Meezan Bank Sukuk - II Front End Load NilMeezan Bank Sukuk - I Trustee Central Depository Company Ltd.Dawood Hercules Sukuk 2 ITMinds Limited

Shariah Advisor Dr. Mufti Hassan Ashraf Usmani


0

Shariah Compliant Investment Plans

AIIFWeight 85%

*Annualized Performance Weighted Av. Return (2020-21) 9.39%*Funds returns computed on NAV to NAV with the dividend reinvestment,if any. Weighted Av. Return (2019-20) 11%

Weighted Av. Return (2018-19) 1.97%AIIF

Trailing Performance Weight 50%Weighted Av. Return (2020-21) 16.8%Weighted Av. Return (2019-20) 9.55%

Returns* 7.37% 7.13% 6.21% 41.35% 167.91% 8.17% Weighted Av. Return (2018-19) -6.7%Benchmark 3.09% 3.20% 3.65% 22.56% 108.93% 5.96% AIIF

*Annualized Return ** CAGR Since Inception *** 3Y and 5Y returns are till FY20 Weight 15%Weighted Av. Return (2020-21) 24.2%Weighted Av. Return (2019-20) 8.12%

Monthly Performance History Weighted Av. Return (2018-19) -15%Year Dec Jan Feb Mar Apr May

2020-2021 5.86% 5.89% 6.52% 7.37%2019-2020 12.52% 12.11% 11.92% 8.17% 5.10%

*Annualized return: (Absolute return) *(365/No. of days)

0.00% 3.42%

2.36%

2.18% 2.45%2.18%

3.91%2.67%

Asset Manager Rating

Marketing & SellingExpense

Back Office Fee

2.46%

3.46%

AM2+(PACRA) (As on 24-Dec-2020)

The Finance Act, 2013 imposed Federal Excise Duty (FED) on financialservices to include Asset Management Companies (AMC’s) with effectfrom 13th June, 2013. On September 04, 2013 a constitutional petitionhas been filed in Sindh High Court (SHC) jointly by various AMC`s,challenging the levy of FED. In a separate petition the Honorable SindhHigh Court declared that the FED was unconstitutional and cannot becharged where provinces are collecting sales tax. The Federation hasfiled an appeal in the Honorable Supreme Court of Pakistan Further, viaFinance Act 2016, the FED has been withdrawn from July 1, 2016. In themeantime, as a matter of abundant caution, the Scheme has heldprovision for FED liability which amounted to Rs.1,733,902 up till June 30,2016. (Rs.0.40 per unit as on April 30, 2021)

PKR 2,295

PKR 531.02

(% on Opening NAV)

Registrar

Six (6) months average deposit rates of three (3) A rated scheduled Islamic Banks or Islamic windows of Conventional Banks as selected by MUFAP

PKR 1,629 (at month end)

Auditor

Net Assets (Excluding Investment by fund of funds) (Rs mn)

EY Ford Rhodes

Actual rate of management fee chargedis 0.4% of Average Annual Net Assets

Mon - Fri : 9:00 am to 04:00 pm

PKR 312,653

Risk Profile of the Fund: MediumFund Stability Rating : AA-(f) (PACRA) (As on 16-Apr-21)

15%Atlas Bachat Islamic Plan AISF

The management company, as a matter of prudence and as recommended byMUFAP, made provision in respect of SWWF with effect from the date of enactmentof the SWWF Act, 2014 (i.e. starting from 21 May 2015) on 12 January 2017.Accordingly, the provision for SWWF is being made on a daily basis going forward.Up till April 30, 2021, a sum of Rs. 10,286,056 (Rs. 2.38 per unit) has been provided forSWWF.

11.59%13.21% 8.27%6.21%YTD

7.47%

CAGR **

Jun

85%Atlas Bachat Growth Islamic Plan AISF

Atlas Bachat Balanced Islamic Plan AISF

Since Inception

30 Days(1 Month)

27.05%12.95%

YTD 3 Years ***

3.29%6.35%4.08%

5 Years ***

50%

11.28% 12.14% 12.78% 12.23% 12.57%

6.44%

90 Days

5.60% 5.64% 5.75%NovSepAugJul5.1%

Oct

180 Days 365 Days(1 Year)

5.66%

Apr-21 Mar-2158.98%16.35%11.49%

55.47%14.53%10.18%9.87% 1.82%8.41% 9.51%

1.54% 1.85%


These are allocations between AIIF and AISF aimimg at acustomized investment approach to the investors to meet theirpersonal goals and preferences.

AAA, 4.21%

AA+, 10.10%AA, 34.99%

A+, 36.04%A, 0.13%

Govt Securities, 14.53%

7.47%7.92%

5.00%5.68%

4.87%

8.15%

11.41%

0%

2%

4%

6%

8%

10%

12%

2014 2015 2016 2017 2018 2019 2020

4.97

5.97

4.92

5.66

11.59

6.21

5.15

3.262.44

3.69

6.33

3.65

0%

2%

4%

6%

8%

10%

12%

14%

2016 2017 2018 2019 2020 YTD

RETURN BENCHMARK

*


April 2021

Atlas Islamic Money Market Fund (AIMF)









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Fund FactsFund Type Open-ended

Investment Objective Category Islamic Money Market SchemeThe objective of Atlas Islamic Money Market Fund (AIMF) is to provide competitive return to its investors Launch Date 7-Jan-21(with a periodic payout) by investing in low risk, highly liquid and short duration portfolio consist of Net Assets (mn) (at month end)Shariah Compliant money market instruments.

Asset Mix* Leverage & Maturity Profile AIMF NAV (at month end)Cash Leverage: Nil BenchmarkBai Muajjal Weighted average time to Commercial Paper maturity of the Net assets (Days) 24.54Others incl. receivables* % of Gross Asset Dealing Days Monday to Friday

Cut Off timings

Total Including FoF Pricing mechanism Forward PricingTotal Excluding FoF Total Expense Ratio 0.59% - annualized (Incl Govt Levy)


Asset Allocation (% of Total Assets ) Jan-00 Credit Quality of the Portfolio (% of Total Assets ) Jan-00 Management Fee

Nil

Front End Load NilTrustee Central Depository Company Ltd.

ITMinds Limited

Shariah Advisor Dr. Mufti Hassan Ashraf Usmani

Yearly Performance*

0

*Annualized Performance*Funds returns computed on NAV to NAV with the dividend reinvestment,if any.


Returns* 6.36% 6.24% 6.28% N/A N/A N/ABenchmark 3.11% 3.16% 3.16% N/A N/A N/A

*Annualized Return ** CAGR Since Inception *** 3Y and 5Y returns are till FY20


2020-2021 6.32% 6.23% 6.36%2019-2020

*Annualized return: (Absolute return) *(365/No. of days)

PKR 592Net Assets (Excluding Investment by fund of funds) (Rs mn)

PKR 592 (at month end)

Apr-21 Mar-21 PKR 500.00

Mon - Fri : 9:00 am to 04:00 pm

100.0% 100.0%0.0% 68.8%

60.19% 60.68% Three (3) months average deposit rates of Three (3) AA rated Islamic Banks or Islamic windows of conventional bank as Selected by MUFAP

25.11% 25.39%13.75% 13.09%0.95% 0.84%

Actual rate of management feecharged is 0.05% of Average Annual Net

Back Office Fee PKR 26,137Marketing & SellingExpense

(As on 29-Jan-21)

The management company, as a matter of prudence and as recommended byMUFAP, made provision in respect of SWWF with effect from the date ofenactment of the SWWF Act, 2014 (i.e. starting from 21 May 2015) on 12 January2017. Accordingly, the provision for SWWF is being made on a daily basis goingforward. Up till April 30, 2021, a sum of Rs. 212,489 (Rs. 0.18 per unit) has beenprovided for SWWF.

RegistrarAuditor EY Ford RhodesAsset Manager Rating AM2+(PACRA) (As on 24-Dec-2020)

Risk Profile of the Fund: LowFund Stability Rating : AA (f) (PACRA)

30 Days(1 Month)

90 Days 180 Days 365 Days(1 Year) YTD 3 Years *** 5 Years ***

N/A N/A 3.16%

Since Inception CAGR **

N/A N/A 6.24%

YTD6.05% 6.28%

Jul Aug Sep Oct Nov Jun


AAA, 12.38%

AA+, 12.72%

AA, 74.90%

6.28

3.16

0%

1%

2%

3%

4%

5%

6%

7%

YTD

RETURN BENCHMARK

*

Cash, 60.19%Bai Muajjal, 25.11%

Commercial Paper, 13.75%

Others incl. receivables, 0.95%

April 2021

April 2021

Atlas Islamic Stock Fund (AISF)







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Investment Objective Fund FactsTo provide long term capital growth from an actively managed portfolio invested in Shariah Fund Type Open-endedcompliant listed companies in Pakistan. Category Islamic Equity Scheme

Launch Date 15-Jan-07Net Assets (mn) (at month end)

Asset Mix* Leverage Profile AISF NAV (at month end)Equities Leverage: Nil Benchmark KMI - 30 Index





Management Fee

* % of Gross AssetNil

Yearly Performance Payout History (% on Opening NAV)

Front End Load Upto 2% *Trustee Central Depository Company Ltd.

Registrar ITMinds LimitedAuditor EY Ford Rhodes

Asset Manager Rating AM2+(PACRA)Shariah Advisor Dr. Mufti Hassan Ashraf UsmaniRisk Profile of the Fund: High

*Funds returns computed on NAV to NAV with the dividend reinvestment,if any.

Sector Allocation % of Total Assets Top 10 Holdings % of Total Assets SectorCement

Oil & Gas Exploration Lucky Cement Limited 11.44 CementFertilizer Meezan Bank Limited 9.60 Commercial BanksCommercial Banks Oil & Gas Development Co. Ltd 8.12 Oil & Gas ExplorationPharmaceuticals Engro Corporation Limited 7.49 FertilizerOthers Mari Petroleum Co. Ltd 5.65 Oil & Gas Exploration

Pakistan Petroleum Limited 5.03 Oil & Gas Exploration

Hub Power Company Limited 4.15 Power Gen & Dist

Pakistan State Oil Co. Ltd 3.70 Oil & Gas Marketing

Highnoon Laboratories Limited 2.46 Pharmaceuticals

Fauji Cement Company Limited 2.42 Cement


Returns* -3.18% -4.60% 27.44% 27.36% 9.69% 471.54% 12.97%Benchmark -2.14% -3.70% 28.72% 29.97% -3.97% N/A N/A

*Actual Returns - Not Annualized ** CAGR Since Inception *** 3Y and 5Y returns are till FY20


2020-2021 6.13% 4.28% 2.69% -4.03% -3.18%2019-2020 4.90% 2.40% -9.11% -24% 22.8% -0.03%


(As on 24-Dec-2020)

Mar-21

Mon - Fri : 9:00 am to 04:00 pm1.41%



Actual rate of management fee charged is 2.4% of Average Annual Net Assets

* On amount less than or equal to Rs.25 Mn. However, in case wheretransactions are done online or through the website, the maximum front-end load will be up to 1.5%.

19.99 20.75

Apr-21

9.60 9.97

PKR 2,441

1.81%

1.50%

PKR 580.32

Jul

Apr-21

9.87

96.69% 96.31%

8.94

32.07

2.28%

5.41 5.37 31.64

30 Days(1 Month)

90Days

180 Days

-19.73%10.05%

365 Days(1 Year)

Mar-2120.19 19.20

For Shariah Compliant Investment Plans please refer to AIIF on pre-page.

The Finance Act, 2013 imposed Federal Excise Duty (FED) on financialservices to include Asset Management Companies (AMC’s) with effectfrom 13th June, 2013. On September 04, 2013 a constitutional petitionhas been filed in Sindh High Court (SHC) jointly by various AMC`s,challenging the levy of FED. In a separate petition the HonorableSindh High Court declared that the FED was unconstitutional andcannot be charged where provinces are collecting sales tax. TheFederation has filed an appeal in the Honorable Supreme Court ofPakistan Further, via Finance Act 2016, the FED has been withdrawnfrom July 1, 2016. In the meantime, as a matter of abundant caution,the Scheme has held provision for FED liability which amounted toRs.10,453,385 up till June 30, 2016. (Rs.2.49 per unit as on April 30, 2021)


YTD 3 Years ***

Scrip

5 Years ***Since

Inception CAGR **

% Sectors

Jun

0.09% 7.51%

12.57% -30.03%

YTD27.36%

NovAug Sep Oct

-5.86% -8.37% 9.40% 9.50% 14.09%14.41% 4.34% -1.63% -1.46% 4.23%

33.82%

12.05% 12.23%

7.41%

1.51%

0%

5%

10%

15%

20%

25%

30%

35%

40%

2013 2014 2015 2017 2020

5.73%

29.25%

-7.88%

-18.95%

7.51%

27.36%

15.53%18.8%

-9.59%

-23.84%

1.6%

29.97%

-30%

-20%

-10%

0%

10%

20%

30%

40%

2016 2017 2018 2019 2020 YTDRETURN BENCHMARK



Cement , 20.19


19.99

Fertilizer , 9.87Commercial Banks , 9.60

Pharmaceu…

Others , 31.64

High

April 2021

Atlas Islamic Dedicated Stock Fund (AIDSF)









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Investment Objective Fund FactsFund Type Open-endedCategory Islamic Equity SchemeLaunch Date 10-Jan-19Net Assets (mn) (at month end)

Asset Mix* Leverage Profile AIDSF (at month end)Equities Leverage: NilOthers incl. receivablesCash NAV (at month end)* % of Gross Asset Benchmark KMI - 30 Index


Cut Off timings

Pricing mechanism Forward PricingTotal Expense Ratio 4.23% - annualized (Incl Govt Levy)

Total Including FoF Govt Levy 1.03% rep Gov levy, WWF & SECP Fee

*Funds returns computed on NAV to NAV with the dividend reinvestment,if any. Management Fee

Sector Allocation % of Total Assets Top 10 Holdings % of Total Assets

Sector Scrip % Sectors NilCement 20.84 Lucky Cement Limited 12.35 Cement Oil & Gas Exploration 20.48 Meezan Bank Limited 9.79 Commercial Banks Front End Load Upto 2% *Commercial Banks 9.79 Oil & Gas Development Co. Ltd 8.03 Oil & Gas Exploration Trustee Central Depository Company Ltd.Fertilizer 9.37 Engro Corporation Limited 7.23 Fertilizer Registrar ITMinds LimitedPharmaceuticals 5.43 Mari Petroleum Co. Ltd 5.55 Oil & Gas Exploration Auditor EY Ford RhodesOthers 30.75 Pakistan Petroleum Limited 5.40 Oil & Gas Exploration Asset Manager Rating AM2+(PACRA)

Hub Power Company Limited 3.70 Power Gen & Dist Shariah Advisor Dr. Mufti Muhammad Wasie Fasih ButtPakistan State Oil Co. Ltd 3.70 Oil & Gas Marketing Risk Profile of the Fund: HighFauji Cement Co. Ltd 2.53 CementHighnoon Laboratories Limited 2.46 Pharmaceuticals

Payout History (% on Opening NAV)


Returns* -2.85% -3.69% 28.55% 28.65% N/A 14.03% N/ABenchmark -2.14% -3.70% 28.72% 29.97% N/A 8.05% N/A

*Actual Returns from Jan 10, 2019 - Not Annualized


2020-2021 14.49% 5.59% 4.06% 2.89% -3.63% -2.85%2019-2020 -5.84% 4.93% 2.53% -9.02% -22.96% 22.03% -0.14%

* On amount less than or equal to Rs.25 Mn. However, in case wheretransactions are done online or through the website, the maximum front-endload will be up to 1.5%.



Uptill April 30, 2021 the fund has provided a sum of Rs. 2,568,691 against Sindh Workers’ Welfare Fund (SWWF) Liability.

(As on 24-Dec-2020)

5 Years Since Inception

CAGR365 Days(1 Year) YTD 3 Years

Oct Nov Jun YTD

10.64% N/A12.57% N/A

0.07% 7.15%4.53%-8.45%

-1.36%9.32%

-1.51%9.20%

4.53%13.24%

28.65%Jul

30 Days(1 Month)

90Days

180 Days

Aug Sep

PKR 339Apr-21 Mar-21 PKR 93.51Net Assets (Excluding

Investment by fund of funds) (Rs mn)

96.66% 96.10%2.51% 2.91%

PKR 568.23

To provide other ‘Fund of Funds’ Schemes & Investment Advisory Clients (only managed by Atlas Asset Management Limited) an avenue for investing in Shariah Compliant Equities.

100.0% 100.0%

0.83% 0.99%

Actual rate of management fee charged is 2.4% of Avg. Annual Net Assets

Mon - Fri : 9:00 am to 04:00 pm

8.90 5.23

31.75

Apr-21 Mar-21

9.76

19.21 21.26


LUCK, 12.35%

MEBL, 9.79%

OGDC, 8.03%

ENGRO, 7.23%

MARI, 5.55%

PPL, 5.40%

HUBC, 3.70%

PSO, 3.70% FCCL,

2.53%HINOON,

2.46%

Top Ten Holdings %

0.36%

0%

0.05%

0.1%

0.15%

0.2%

0.25%

0.3%

0.35%

0.4%

2020

Cement , 20.84


20.48

Commercial …Fertilizer , 9.37

Pharmaceuticals , 5.43

Others , 30.75

High

April 2021

Atlas Islamic Fund of Funds (AIFOF)

Investment Objective Fund FactsFund Type Open-endedCategory Islamic Fund of FundsLaunch Date 7-Jan-19Benchmark

Atlas Aggressive Allocation Islamic Plan (AAAIP)Atlas Moderate Allocation Islamic Plan (AMAIP)Atlas Conservative Allocation Islamic Plan (ACAIP)

Atlas Islamic Capital Preservation Plan (AICPP)Atlas Islamic Dividend Plan (AIDP)

Leverage NilDealing Days

Cut Off timings

Pricing mechanismManagement Fee

AAAIP * -1.91% 21.56% N/A 18.76% N/A AAAIPBenchmark * -1.43% 23.32% N/A 17.08% N/A AMAIPAMAIP * -1.21% 16.80% N/A 20.63% N/A ACAIPBenchmark * -0.93% 17.78% N/A 18.36% N/A AICPPACAIP * -0.38% 11.23% N/A 23.43% N/A AIDPBenchmark * -0.36% 10.16% N/A 18.55% N/AAICPP * 0.18% 10.44% N/A 18.73% N/A NilBenchmark * 0.03% 9.69% N/A 13.78% N/AAIDP ** 6.56% 5.43% N/A 5.99% N/A Shariah AdvisorBenchmark ** 3.09% 3.66% N/A 4.32% N/A Front End Load

Back End Load 2.5% on CPPI ***Trustee Central Depository Company Ltd.Registrar ITMinds LimitedAuditor EY Ford Rhodes

(PKR Mn.) Asset Manager Rating AM2+(PACRA)Shariah Advisor

AAAIP Risk ProfileAMAIPACAIPAICPPAIDP

Subscription Period

Duration

AAAIPAMAIPACAIPAICPPAIDP

AAAIPAMAIPACAIPAICPPAIDP

Funds Multiplier:AICPP


Uptill April 30, 2021 the funds has provided an amount of Rs.630,952 (AAAIP), Rs. 621,639 (AMAIP), Rs. 585,179 (ACAIP), Rs.1,861,817 (AICPP) and Rs. 63,259 (AIDP) against Sindh Workers’Welfare Fund (SWWF) Liability.


Back Office Fee PKR 17,349PKR 18,651PKR 19,726PKR 70,015PKR 3,755

*** Back-end Load shall be charged to the CPPI base plan.2.5% back-end Load shall be charged in case redemptionfrom the fund is made before the stated maturity/duration ofthe CPPI Plan(s).

** On amount less than or equal to Rs.25 Mn. However, in casewhere transactions are done online or through the website,the maximum front-end load will be up to 1.5%.

* No Management fee in case of investment is made in CIS ofAAML. However, management fee of 1% of average annualnet assets in case investment is made in Cash/ Near Cashinstruments, savings and term deposits made with Islamicbanks or Islamic banking windows of commercial banks.

The Duration of the Allocation Plans isPerpetual. However, the initial maturity of -(AICPP) shall be thirty month (2.5 years).

Subscription period for AICPP has beenclosed.

AAAIP - HighAMAIP - HighACAIP - MediumAICPP - MediumAIDP - Medium

(As on 24-Dec-2020)Dr. Mufti Muhammad Wasie Fasih Butt

Upto 2% **

0.39% 4.17% 10.33% N/A

0.77 0.05 0.77 0.05

0.68 0.32 0.60 0.29

0.76 0.39 0.64

Expense Ratio %

6.35% 5.54% 5.55% N/A3.19%

PKR 500

3.29% 4.05%

0.16%-0.26% 5.08%

5.03%11.65% N/A12.03% N/A

4.80% 11.27% N/A1.05%

To provide unit holders an opportunity to earn potentially high returns through investment as per respective Allocation Plans by investing in Shariah Compliant Fixed Income Schemes and Equity based Collective Investment Schemes.

-2.28%-2.32%

8.31%10.06%

21.78%22.86% N/A

N/A

1.24%1.73%0.99%

0.83%

Since Inception CAGR 30 Days

(1 Month) 180 Days 365 Days(1 Year) YTD 3 Years

88.85%

AIDSF72.03%51.34%27.12%

10.24%

Others incl. receivables0.13%0.13%0.11%

0.08%12.35% 0.22%- 87.43%

71.78%

PKR 27

PKR 585.67

*Actual Returns - Not Annualized **Actual Return - Annualized

NAV

Net Assets

PKR 140 PKR 141

PKR 27PKR 500

PKR 124PKR 133

April 2021

PKR 122PKR 132

March 2021

PKR 592.33PKR 578.56PKR 575.94

PKR 501

April 2021

Govt. Lev %

Expense RatioApril 2021 March 2021

0.84 0.47

PKR 578.14PKR 549.53PKR 550.53

March 2021

PKR 581.01

Expense Ratio % Govt. Lev %

4.524.96

PKR 500

Max. Multiplier Min. Multiplier

0.28 0.58 0.27

0.95 0.58 0.84 0.47

N/A

Mon - Fri : 9:00 am to 04:00 pm

The benchmark of each allocation Plan will be the weighted average return of KMI-30 Index, and Six months average deposit rates of three (3) A rated Islamic Banks or Islamic windows of conventional banks as selected by MUFAP based on the actual proportion of investment in Equity, Income schemes and bank deposit made by the respective allocation Plan.

Monday to Friday

Forward Pricing90Days

-1.18%

-1.34% 7.76%

6.74%

17.83% N/A

17.29% N/A

Upto 1%*5 Years

CashAIIF26.60%46.80%

*


Atlas Islamic Fund of Funds Asset Allocation ( % of Total Assets )

*

*

*

*

******

******

******

*

*

*

*

*

*

*

*

*

********************







Head of Equities

MUF

AP'

s Rec

omm

end

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orm

at

10DISCLAIMER: This publication is for informational purposes only and nothing herein should be construed as a solicitation, recommendation or an offer to buy or sell any fund.All investments in mutual fund are subject to market risks. Past performance is not necessarily indicative of the future results. Please read the Offering Document to understand the investment policies and the risks involved. A statement on the specific terms of capital protection (e.g capital protection only applies to unit holders who hold their investments until maturity date)


MUFAP's Recommended Format

April 2021

Atlas Pension Fund (APF)









MUF

AP'

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Investment Objective Fund Factsa) The APF-ESF is to earn returns from investments in Pakistani Equity Markets. Fund Inception Date 28-Jun-07b) The APF-DSF is to earn returns from investments in debt markets of Pakistan, thus incurring a Nil relatively Lower risk than equity investments.c) The APF-MMSF is to earn returns from investments in Money Markets of Pakistan, thus incurring a Front End Load 3% (Front-end) of contribution Relatively lower risk than debt investments. Management Fee 1.5% of Avg. Annual N.A. (Equity)

0.75% of Avg. Annual N.A. (Debt)

0.50% of Avg. Annual N.A. (M.Market)

Yearly Performance Portfolio Composition Trustee Central Depository Company Ltd.Registrar ITMinds LimitedAuditors EY Ford RhodesMinimum Investment Rs.5,000/- or 10% of monthly

income (which ever is lower)Eligibility Any Pakistani (resident or

non-resident), who holds avalid NTN or CNIC/NICOPAM2+(PACRA)

(at month end)APF-Equity (ESF)APF-Debt (DSF)APF-M.M (MMSF)

The manageme*Actual Returns - Not Annualized

*Annualized Return

Allocation Scheme APF-ESF APF-DSF APF-MMSF(i) High Volatility 65-80% 20-35% NilReturn based on 80%Weighted Av. Return (2020-21)Weighted Av. Return (2019-20)Weighted Av. Return (2018-19)(ii) Medium Volatility 35-50% 40-55%Return based on 50%Weighted Av. Return (2020-21)Weighted Av. Return (2019-20)

*Annualized Return Weighted Av. Return (2018-19)(iii) Low Volatility 10-25% 60-75%Return based on 25%

Sector Allocation % Total Assets for Top 10 Holdings % Total Assets for Weighted Av. Return (2020-21)APF-Equity Sub Fund APF-Equity Sub Fund Weighted Av. Return (2019-20)Sector Weighted Av. Return (2018-19)Commercial Banks (iv) Lower Volatility Nil 40-60%Cement 6.70 Return based on NilOil & Gas Exploration 6.66 Weighted Av. Return (2020-21)Power Generation & Distribution 6.09 Weighted Av. Return (2019-20)Fertilizer 5.01 Weighted Av. Return (2018-19)Others 4.56 (v) Lifecycle

4.524.043.872.602.38

(vi) Customized 0-100% 0-100%Trailing Performance

APF-Debt Sub-Fund

-1.52% 477.85%*Annualized return: (Absolute return) *(365/No. of days) ** CAGR Since Inception

Net Assets (mn) NAVPKR 544 PKR 577.85PKR 436 PKR 326.67

Asset Manager Rating (As on 24-Dec-2020)


PKR 555 PKR 299.32

Atlas Pension Fund Allocation Schemes

The Finance Act, 2013 imposed FED on AMC. On September 04, 2013 aconstitutional petition has been filed in Sindh High Court (SHC) jointly byvarious AMC`s, challenging the levy of FED. In a separate petition theHonorable Sindh High Court declared that the FED was unconstitutional andcannot be charged where provinces are collecting sales tax. TheFederation has filed an appeal in the Honorable Supreme Court of Pakistan.Meanwhile in Federal Budget 2016, the FED has been withdrawn from July 1,2016 .In the meantime, as a matter of abundant caution, The Scheme hasheld provision for FED liability which amounted to (ESF) Rs.1,523,347, (DSF)Rs.1,124,175, (MSF) Rs.706,273 up till June 30, 2016 which is Rs.1.62, Rs.0.84,Rs.0.38 per unit respectively as on April 30, 2021

The management company, as a matter of prudence and asrecommended by MUFAP, made provision in respect of SWWF with effectfrom the date of enactment of the SWWF Act, 2014 (i.e. starting from 21 May2015) on 12 January 2017. Accordingly, the provision for SWWF is being madeon a daily basis going forward. Up till April 30, 2021, a sum of Rs. 6,795,544(Rs. 7.22 per unit) (ESF), Rs. 3,671,230 (Rs. 2.75 per unit) (DSF) and Rs. 2,741,994(Rs. 1.48 per unit) (MSF) has been provided for SWWF.

20% Nil26.67%

The participant has the option to select from among six allocation schemes,allowing the participants to adopt a focused investment strategy, accordingto their risk/return. The weighted averag return below is worked on assetallocation as indicated.

18.99%12.09%-4.87%

15-30%60% 15%

8.96%-12.33%10-25%

40% 10%

40-60%15.60 15.04 Lucky Cement Limited Cement 60% 40%

12.59%14.91%

Apr-21 Mar-21 Scrip % Sectors 1.3%23.81 22.20

12.65 12.72 Habib Bank Limited Commercial Banks 6.17%7.44 8.13 United Bank Limited Commercial Banks 16.4%6.65 6.79 Mari Petroleum Co. Ltd Oil & Gas Exploration 7.76%31.36 31.38 Hub Power Company Limited Power Gen & Dist

Thal Limited Auto Parts & Access

Lifecycle scheme allocates investments among the sub-funds and thevarying allocations with the age of the participants, moving from higherpercentage in equities in younger years to lower percentage in equities inolder years to reduce the risk near retirement age, seeking capital growthand preservation towards the later years in participants lifecycle.

Oil & Gas Development Co. Ltd Oil & Gas ExplorationHabib Metropolitan Bank Ltd Commercial Banks

Engro Corporation Limited FertilizerMeezan Bank Limited Commercial Banks

0-100%

APF-Equity Sub-Fund APF-Money Market Sub-Fund30 Days

(1 Month)Since

Inception CAGR** 30 Days * (1 Month)

Since Inception

13.50% 11.47% 226.67% 8.92% 6.79% 199.32% 8.24%

CAGR** 30 Days *(1 Month)

Since Inception CAGR**

10.8%10.35%

8.15%7.59% 7.93%

5.74% 5.53%5.36%

8.64%

12.40%

6.11%

0%

2%

4%

6%

8%

10%

12%

14%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD

APF-Money Market Sub-Fund

*

9.64%10.16%8.47% 7.83%

13.03%

7.88%

5.24% 4.96%

7.17%

19.07%

6.21%

-3%

2%

7%

12%

17%

22%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD

APF-Debt Sub-Fund

*

29.73%

16.72%

52.48%

35.3%

21.13%

4.5%

28.72%

-2.97%

-17.21%

6.44%

31.78%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD

APF-Equity Sub-Fund

*

Equities, 97.51%

Cash, 0.17% Others incl. receivables, 2.32%

APF-Equity Sub-Fund

T-Bills, 44.47%


Cash, 2.07%TFCs, 2.66%

Sukuk, 9.42%

PIBs, 39.51%

APF-Debt Sub-Fund

Cash, 18.40%

T-Bills, 77.44%


APF-Money Market Sub-Fund



April 2021

Atlas Pension Fund (APF)

2.35%

-11.37%

18.43%

25.72%

15.42%

43.64%

29.79%

19.51%

5.18%

24.02%

-1.38%

-12.33%

8.96%

4.39%

-3.14%

15.00%

19.81%

13.47%

30.38%

21.52%

16.57%

5.99%

17.01%

1.04%

-4.87%

12.09%

5.97%

3.21%

12.07%

14.84%

11.83%

19.39%

14.64% 14.29%

6.74%

11.15%

3.04%1.30%

14.91%

7.38%9.41% 9.19%

10.11% 10.21%8.37% 7.73%

10.99%

7.04%

5.36% 5.12%

7.76%

16.40%

-15%

-5%

5%

15%

25%

35%

45%

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

Retu

rn

Yearly Performance







Head of Equities

MUF

AP'

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-40%

-20%

0%

20%

40%

60%

80%

100%

120%

140%

160%

180%

200%

220%

240%

260%

30-Jun-07

30-Sep-07

31-Dec-07

31-Mar-08

30-Jun-08

30-Sep-08

31-Dec-08

31-Mar-09

30-Jun-09

30-Sep-09

31-Dec-09

31-Mar-10

30-Jun-10

30-Sep-10

31-Dec-10

31-Mar-11

30-Jun-11

30-Sep-11

30-Dec-11

31-Mar-12

30-Jun-12

30-Sep-12

31-Dec-12

31-Mar-13

30-Jun-13

30-Sep-13

31-Dec-13

31-Mar-14

30-Jun-14

30-Sep-14

31-Dec-14

31-Mar-15

30-Jun-15

30-Sep-15

31-Dec-15

31-Mar-16

30-Jun-16

30-Sep-16

31-Dec-16

31-Mar-17

30-Jun-17

30-Sep-17

31-Dec-17

31-Mar-18

30-Jun-18

30-Sep-18

31-Dec-18

31-Mar-19

30-Jun-19

30-Sep-19

31-Dec-19

31-Mar-20

30-Jun-20

30-Sep-20

31-Dec-20

31-Mar-21

30-Apr-21

Cu

mu

lati

ve R

etu

rn

Year ended June 30

Assumptions:1. Based on equal monthly contributions2. Reallocation/rebalancing once a year

(On allocation as stAtlas Pension Fund

ated in the box)Appreciation in value of investment over cost net of tax credit

Equal contribution made to the allocation schemes in APF each month.

Equity Debt MoneyMkt.

TaxCredit

AllocationScheme

80%50%25%0%

20%40%60%60%

0%10%15%40%

10%10%10%10%

High VolatilityMedium VolatilityLow VolatilityLower Volatility

MoneyMkt.

April 2021

Atlas Pension Islamic Fund (APIF)

Investment Objective Fund Factsa) The APIF-ESF is to earn returns from investments in Pakistani Equity Markets. Fund Inception Dateb) The APIF-DSF is to earn returns from investments in debt markets of Pakistan, thus incurring a Nil relatively Lower risk than equity investments.c) The APIF-MMSF is to earn returns from investments in Money Markets of Pakistan, thus incurring a Front End Load 3% (Front-end) of contribution Relatively lower risk than debt investments. Management Fee 1.5% of Avg. Annual N.A. (Equity)

0.75% of Avg. Annual N.A. (Debt)

0.50% of Avg. Annual N.A. (M.Market)

Yearly Performance Portfolio Composition Trustee Central Depository Company Ltd.Registrar ITMinds LimitedAuditors EY Ford RhodesMinimum Investment Rs.5,000/- or 10% of monthly

income (which ever is lower)Eligibility Any Pakistani (resident or

non-resident), who holds avalid NTN or CNIC/NICOPAM2+(PACRA)Dr. Mufti Muhammad Wasie Fasih Butt

(at month end)APIF-Equity (ESF)APIF-Debt (DSF)

Asset Allocation (% of Total Assets ) APIF-M.M (MMSF)

* Actual Returns - Not Annualized

*Annualized Return

Atlas Pension Islamic Fund Allocation Schemes

APIF-ESF(i) High Volatility 65-80%Return based on 80%Weighted Av. Return (2020-21)Weighted Av. Return (2019-20)Weighted Av. Return (2018-19)Weighted Av. Return (2017-18)(ii) Medium Volatility 35-50%Return based on 50%

*Annualized Return Weighted Av. Return (2020-21)Weighted Av. Return (2019-20)

Sector Allocation % Total Assets for Top 10 Holdings % Total Assets for Weighted Av. Return (2018-19)APIF-Equity Sub Fund APIF-Equity Sub Fund Weighted Av. Return (2017-18)Sector (iii) Low Volatility 10-25%Cement Return based on 25%Oil & Gas Exploration 9.34 Weighted Av. Return (2020-21)Fertilizer 8.90 Weighted Av. Return (2019-20)Commercial Banks 7.02 Weighted Av. Return (2018-19)Pharmaceuticals 6.24 Weighted Av. Return (2017-18)Others 5.96 (iv) Lower Volatility Nil

4.50 Return based on Nil4.05 Weighted Av. Return (2020-21)3.89 Weighted Av. Return (2019-20)2.93 Weighted Av. Return (2018-19)2.52 Weighted Av. Return (2017-18)

(v) LifecycleTrailing Performance

-2.70% 592.98% 161.04%*Annualized return: (Absolute return) *(365/No. of days) ** CAGR Since Inception

(vi) Customized 0-100%

Net Assets (mn) NAVPKR 547 PKR 697.76PKR 484 PKR 249.07PKR 547 PKR 262.84Jan-00

The Finance Act, 2013 imposed FED on AMC. On September 04, 2013 aconstitutional petition has been filed in Sindh High Court (SHC) jointly byvarious AMC`s, challenging the levy of FED. In a separate petition theHonorable Sindh High Court declared that the FED was unconstitutionaland cannot be charged where provinces are collecting sales tax. TheFederation has filed an appeal in the Honorable Supreme Court ofPakistan. Meanwhile in Federal Budget 2016, the FED has beenwithdrawn from July 1, 2016 .In the meantime, as a matter of abundantcaution, The Scheme has held provision for FED liability which amountedto (ESF) Rs.1,611,207, (DSF) Rs.1,046,875, (MSF) Rs.644,724 up till June 30,2016 which is Rs.2.05, Rs.0.54, Rs.0.31 per unit respectively as on April 30,2021

The management company, as a matter of prudence and asrecommended by MUFAP, made provision in respect of SWWF witheffect from the date of enactment of the SWWF Act, 2014 (i.e. startingfrom 21 May 2015) on 12 January 2017. Accordingly, the provision forSWWF is being made on a daily basis going forward. Up till April 30, 2021,a sum of Rs. 6,045,534 (Rs. 7.71 per unit) (ESF), Rs. 2,585,092 (Rs. 1.33 perunit) (DSF) and Rs. 2,479,855 (Rs. 1.19 per unit) (MSF) has been providedfor SWWF.

6-Nov-07

Asset Manager Rating (As on 24-Dec-2020)Shariah Advisor


0-100% 0-100%

APIF-DSF APIF-MMSF20-35% Nil

18.08%

25.64%8.69%

-13.85%

20% Nil

-6.92%40-55% 10-25%

40% 10%

18.88 19.85 Lucky Cement Limited Cement

9.13%-5.89%-2.94%

60-75% 15-30%Apr-21 Mar-21 Scrip % Sectors 60% 15%

Oil & Gas Exploration40-60%

19.36 19.2011.79%

33.65 34.86 Mari Petroleum Co. Ltd Oil & Gas ExplorationPakistan Petroleum Limited Oil & Gas Exploration

9.51%0.73%

40-60%60% 40%

9.08 8.88 Meezan Bank Limited Commercial Banks8.90 9.20 Engro Corporation Limited Fertilizer

0.37%4.96 5.02 Oil & Gas Development Co. Ltd

9.87%7.41%

5.44%

Systems Limited Tech & ComPakistan State Oil Co. Ltd Oil & Gas MarketingHub Power Company Limited Power Gen & Dist

30 Days (1 Month)

Since Inception CAGR** 30 Days *

(1 Month)Since

Inception15.43% 7.12%

3.76%

APIF-Debt Sub-Fund APIF-Money Market Sub-Fund

Fauji Cement Company Limited Cement

APIF-Equity Sub-Fund

CAGR** 30 Days *(1 Month)

Since Inception CAGR**

147.36% 6.94% 5.86% 7.37%

9.79%9.61%

7.12%7.67%

5.97%

4.21%4.88%

4.02%

7.57%

9.81%

5.25%

0%

2%

4%

6%

8%

10%

12%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD

APIF-Money Market Sub-Fund

*

Sukuk, 15.79%


Cash, 77.62%


APIF-Money Market Sub-Fund

5.79%

6.98%7.79%8.04%

5.53%

4.23%

5.39%

3.58%

7.30%

9.90%

5.56%

0%

2%

4%

6%

8%

10%

12%

2011 2012 2013 2014 2,015.002016 2017 2018 2019 2020 YTD

APIF-Debt Sub-Fund

*

Ijarah Sukuks, 31.44%


Cash, 46.58%


Sukuk, 12.59%

APIF-Debt Sub-Fund

39.45%

30.05%

49.02%

24.88%24.32%

4.99%

28.29%

-9.54%-19.14%

8.38%

30.66%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 YTD


*

Equities, 94.83%

Cash, 0.42%





The participant has the option to select from among six allocationschemes, allowing the participants to adopt a focused investmentstrategy, according to their risk/return. The return below is worked onasset allocation as indicated.

Lifecycle scheme allocates investments among the sub-funds and thevarying allocations with the age of the participants, moving fromhigher percentage in equities in younger years to lower percentage inequities in older years to reduce the risk near retirement age, seekingcapital growth and preservation towards the later years in participantslifecycle.









MUF

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April 2021

Atlas Pension Islamic Fund (APIF)

-2.44%

4.69%

21.31%

32.27%

25.58%

40.84%

21.79%20.49%

4.84%

23.71%

-6.92%

-13.85%

8.69%

-0.06%

10.80%

18.13%

22.36%

19.03%

28.45%

16.88%14.85%

4.61%

16.79%

-2.94%

-5.89%

9.13%

1.87%

12.30% 14.53% 14.31%13.33%

18.09%

12.55%

10.20%

4.42%

11.04%

0.37% 0.73%

9.51%

3.73%

10.62%9.56%

7.38% 8.02% 7.54% 7.89%

5.70% 4.23% 5.19%3.76%

7.41%

9.87%

-15%

-5%

5%

15%

25%

35%

45%

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20

Ret

urn

Yearly Performance







Head of Equities

MUF

AP'

s Rec

omm

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-50%

0%

50%

100%

150%

200%

250%

300%

31-Dec-07

31-Mar-08

30-Jun-08

30-Sep-08

31-Dec-08

31-Mar-09

30-Jun-09

30-Sep-09

31-Dec-09

31-Mar-10

30-Jun-10

30-Sep-10

31-Dec-10

31-Mar-11

30-Jun-11

30-Sep-11

30-Dec-11

31-Mar-12

30-Jun-12

30-Sep-12

31-Dec-12

31-Mar-13

30-Jun-13

30-Sep-13

31-Dec-13

31-Mar-14

30-Jun-14

30-Sep-14

31-Dec-14

31-Mar-15

30-Jun-15

30-Sep-15

31-Dec-15

31-Mar-16

30-Jun-16

30-Sep-16

31-Dec-16

31-Mar-17

30-Jun-17

30-Sep-17

31-Dec-17

31-Mar-18

30-Jun-18

30-Sep-18

31-Dec-18

31-Mar-19

30-Jun-19

30-Sep-19

31-Dec-19

31-Mar-20

30-Jun-20

30-Sep-20

31-Dec-20

31-Mar-21

30-Apr-21

Cu

mu

lati

ve R

etu

rns

Year ended June 30

Assumptions:1. Based on equal monthly contributions2. Reallocation/rebalancing once a year

(On allocation as stAtlas Pension Islamic Fund

ated in the box)Appreciation in value of investment over cost net of tax credit

Equal contribution made to the allocation schemes in APIF each month.

Equity Debt MoneyMkt.

TaxCredit

AllocationScheme

80%50%25%0%

20%40%60%60%

0%10%15%40%

10%10%10%10%

High VolatilityMedium VolatilityLow VolatilityLower Volatility

MoneyMkt.

fmr - april 2021 · 2021. 5. 17. · april 2021 atlas money market fund (amf) investment committee...

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