Karachi: Atlas Asset Management Limited (AAML), the management company of various funds including Atlas Money Fund (AMF), Atlas Liquid Fund (ALF), Atlas Stock Market Fund (ASMF), and Atlas Income Fund (AIF), has consistently showcased strong performance and strict governance for the fiscal year ended June 30, 2024. The company’s adherence to high corporate governance standards and sound investment strategies contributed to significant returns across its funds.
According to information available from the Pakistan Stock Exchange (PSX), the detailed financial statements and performance metrics underline a stable and prosperous trajectory for the company's funds. AMF reported an earnings per unit increase to 90.20 Rupees in 2024 from 67.64 Rupees in 2023, while ASMF marked a decrease to 478.07 Rupees per unit from the previous year's 522.95 Rupees. Despite these variations, the funds showed substantial net asset growth and positive sales/redemption summaries, with AMF experiencing a net asset increase to 29,714.63 million Rupees and sales rising to 158,439,770 units in 2024.
The governance of AAML was further strengthened through the maintenance of high standards in corporate conduct and compliance with International Financial Reporting Standards. The Board of Directors, including six male and one female director, held six meetings during the fiscal year to ensure rigorous oversight.
In terms of distribution, AMF announced an interim distribution of 102.3177 Rupees per unit for the year, reflecting a 20.46% return, a notable increase from the previous year's 9.96%. Similarly, ALF and ASF provided healthy returns to their investors, bolstering confidence in the management's strategy and fund stability.
The company's strong focus on internal controls and risk management is reflected in the PACRA ratings, where all the funds retained high stability ratings such as 'AA' (f) and 'AA+' (f), indicating a very strong capacity to manage relative stability in returns and low exposure to risks.
Furthermore, the audit committee of AAML, which met in September 2024, re-appointed M/s. A.F. Ferguson and Co., demonstrating a commitment to transparency and accountability. This robust framework ensures that Atlas Asset Management continues to be a reliable choice for investors seeking stable and compliant investment opportunities.