KARACHI, July 27: The Board of Directors of Atlas Asset Management Limited (AAML), an Atlas Group Company, on Friday approved the financial results for the year ended June 30, 2007 and announced payouts for its three open-end funds and one closed-end fund.

According to press release Atlas Income Fund (AIF) declared a bonus of 10pc of the par value of units, equivalent to 9.9707 bonus units on the ex-bonus value of Rs501.47 per unit for every 100 units held as on June 30, 2007.

Atlas Stock Market Fund (ASMF) declared a bonus of 20pc of the par value of units, equivalent to 16.7830 bonus units on the ex-bonus value of Rs595.84 per unit for every 100 units held as on June 30, 2007.

Atlas Islamic Fund (AISF) declared a bonus of three per cent of the par value of units for the period January 15, 2007 to June 30, 2007, equivalent to 2.9833 bonus units on the ex-bonus value of Rs502.79 per unit for every 100 units held as on June 30, 2007.

Atlas Fund of Funds (ATFF) declared a cash dividend of 16pc on the par value of the certificates of Rs10 each.

The return on the funds for the year ended June 30, 2007 on the basis of their opening net asset values (NAVs) was 10.23pc for AIF, 29.39pc for ASMF, 3.56pc for AISF for a period of January 15, 2007 to June 30, 2007 and 17.57pc for ATFF.

The annualised return on the two open-end funds since inception was 10.13pc for AIF for the period March 22, 2004 to June 30, 2007 and 28.97pc for ASMF for the period November 23, 2004 to June 30, 2007.