KARACHI, Dec 18: Atlas Asset Management Limited (AAML) is launching its fourth Atlas Islamic Fund (AIF) next month for which it has obtained all necessary approvals. A press release of the Atlas on Monday indicated initial public offering of the AISF from January 15 to 19, 2007. The Fund has already raised seed capital of Rs250 million.

The AAML is sponsored by Atlas Group of Companies and ING Institutional and Advisory Services B.V., a Dutch company that manages assets in 50 countries. The AAML already manages two open-end funds--Atlas Income Fund and Atlas Stock Market Fund. It also manages a close-end Atlas Fund.

According to the press release Mr Timothy Julien, the regional director ING, visited AAML last week to review the investment process of the existing funds.