Lahore, December 30, 2021 (PPI-OT):Atlas Liquid Fund (or the “fund”) is an open-ended fund, managed by Atlas Asset Management Limited (AAML). In order to strengthen its relative position in money market category, AAML has launched the fund in Nov’21, it has achieved a size of PKR ~2bln. The rating reflects the fund’s low credit risk profile emanating from the fund’s investment policy to invest in strong credit quality investment avenues with sound liquidity.

On Nov-21, fund’s assets were 100% invested with single bank rated ‘AA+’. Further, the investment policy of the Fund strictly prohibits investment in below AA rated avenues. The current weighted average maturity (WAM) of the fund is 1 day. The Fund plans to maintain its WAM around 60 days. Whereas the unit holding pattern is currently concentrated with top 10 investors representing 100% of the total fund size.

The offering document of the fund, restricts the fund to liquid and low risk profile avenues, which reflects redemption risk as well. Any breach of investment policy is considered negative. Going forward, the fund is in process of diversifying its funds allocation by placing funds assets in AAA and AA+ rated banks and T-bills (having maximum duration of 90 days). The strategy represents high liquidity and low risk profile, which bodes well to the rating.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com