July 21, 2006	Friday	Jumadi-ul-Sani 24, 1427

KARACHI, July 20: Atlas Asset Management Limited (AAML) announced payouts for its two open and closed end mutual funds for the year ending June 30, 2006.

A press release issued by the company on Thursday stated that Atlas Income Fund (AIF) declared a bonus of 11.50 per cent of the par value of units, which works out to 11.4933 bonus units on the ex-bonus value of Rs500.29 per unit for every 100 units held as on June 30, 2006.

Atlas Stock Market Fund (ASMF) declared a bonus of 25 per cent of the par value of units, which works out to 23.2433 bonus units on the ex-bonus value of Rs537.79 per unit for every 100 units held.

Atlas Fund of Funds (ATFF) declared cash dividend of 15 per cent on the par value of certificates of Rs10 each.

Total funds under the management of AAML stood at Rs4.8 billion on June 30, 2006, and those under AIF amounted to Rs2.67 billion. It posted a return of 11.53 per cent on annualised basis.

ASMF stood at Rs1.53 billion, reflecting increase of 67.11 per cent over last year. NAV of ASMF appreciated by 32.52 per cent on an annualised basis. ATFF posted return of 19.39 per cent on an annualised basis and market capitalisation of closed end mutual fund amounted to Rs34.78 billion.