Atlas Money Market Fund Atlas Income Fund Atlas Stock .
Atlas Money Market FundAtlas Income FundAtlas Stock Market FundTHIRD QUARTER REPORT31 March 2013(UN-AUDITED)Your Atlasto the World ofInvestmentsManagement CompanyRated AM2- by PACRAIt Takes Skill toMaster the Game
VisionTo be a market leader in providing quality fundmanagement services with customer satisfaction as ourpremier goal.Mission StatementWe are committed to offering our investors the bestpossible returns on a diverse range of products; tomeeting not only the customers’ current and futurerequirements, but also exceeding their expectations.We aim to be the company with which people preferto do business. We are committed to providing astimulating and challenging environment in which allour people can be valuable contributors to theachievement of our vision, while achieving careerprogression and job satisfaction. We recognize thatour success comes from our people. We are committedto the highest ethical and fiduciary standards and firmlybelieve that by placing the best interests of our clientsfirst, we will also serve the best interest of ouremployees, our shareholders, and the communities inwhich we operate.
CONTENTSORGANISATION2CHAIRMAN’S REVIEW3ATLAS MONEY MARKET FUNDCORPORATE INFORMATION5CONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIES6CONDENSED INTERIM INCOME STATEMENT7CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME8CONDENSED INTERIM DISTRIBUTION STATEMENT9CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNITHOLDERS’ FUND11CONDENSED INTERIM CASH FLOW STATEMENT13NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS14ATLAS INCOME FUNDCORPORATE INFORMATION21CONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIES22CONDENSED INTERIM INCOME STATEMENT23CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME24CONDENSED INTERIM DISTRIBUTION STATEMENT25CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNITHOLDERS’ FUND26CONDENSED INTERIM CASH FLOW STATEMENT27NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS28ATLAS STOCK MARKET FUNDCORPORATE INFORMATION37CONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIES38CONDENSED INTERIM INCOME STATEMENT39CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME40CONDENSED INTERIM DISTRIBUTION STATEMENT41CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNITHOLDERS’ FUND42CONDENSED INTERIM CASH FLOW STATEMENT43NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS44
Atlas FundsORGANISATIONManagement CompanyInvestment CommitteeAtlas Asset Management LimitedChairmanMembersBoard of Directors of theManagement CompanyChairmanDirectorsMr. Yusuf H. Shirazi(Non-Executive Director)Mr. Azam Faruque(Independent Director)Mr. Shamshad Nabi(Independent Director)Mr. Frahim Ali Khan(Non-Executive Director)Mr. Arshad P. Rana(Non-Executive Director)Mr. Ali H. Shirazi(Non-Executive Director)Chief Executive Officer Mr. M. Habib-ur-Rahman(Executive Director)Company SecretaryMs Lilly R. DossabhoyManagement CommitteeChairmanMembersMr. M. Habib-ur-RahmanMs Lilly R. DossabhoyMr. Muhammad Abdul SamadMr. Abbas SajjadSecretaryMr. M. Irfan DhedhiRisk Management CommitteeChairmanMembersMr. Muhammad Abdul SamadMr. Khalid MahmoodMs Qurrat-ul-Ain JafariMr. Muhammad Umar KhanSecretaryMs Zainab HusssainBoard CommitteesAudit CommitteeChairmanMembersMr. Azam FaruqueMr. Shamshad NabiMr. Frahim Ali KhanSecretaryMs Qurrat-ul-Ain JafariHuman Resource &Remuneration CommitteeChairmanMembersMr. Frahim Ali KhanMr. M. Habib-ur-RahmanMr. Ali H. ShiraziSecretaryMr. Mohsin Ali Khan2Mr. M. Habib-ur-RahmanMr. Ali H. ShiraziMr. Muhammad Abdul SamadMr. Khalid MahmoodMr. Muhammad Umar Khan(Secretary)Mr. Fawad JavaidChief Internal AuditorMs Qurrat-ul-Ain JafariRegistered OfficeGround Floor, Federation House, Sharae FirdousiClifton, Karachi - 75600Tel: (92-21) 111-MUTUAL (6-888-25)(92-21) 35379501-04Fax: (92-21) 35379280Email: info@atlasfunds.com.pkWebsite: www.atlasfunds.com.pk
Third Quarter Report 2012 -13CHAIRMAN’S REVIEWIt is my pleasure to present the un-audited financial statements of Atlas Money Market Fund (AMF),Atlas Income Fund (AIF), and Atlas Stock Market Fund (ASMF) for the nine months period ended31 March 2013 of the FY 2012-13.THE ECONOMYDuring the period July-March FY 2012-13, total exports stood at US 18 billion. The foreign exchangereserves of the country stood at US 12.2 billion as on 29 March 2013. Foreign remittances reacheda record level of US 10.35 billion, which is an increase of 6.35% YoY compared to the correspondingperiod last year. CPI inflation for the period averaged at 8% as compared to 10.8% recorded duringthe corresponding period last year. The State Bank of Pakistan (SBP) lowered its policy rate by acumulative 250 basis points (bps) to 9.50% during current FY. Lower than expected inflation allowedthe SBP to focus on encouraging private investment expenditures in the economy by adopting softermonetary policy stance. During July-February FY 2012-13, loans to private businesses have increasedby Rs.173.3 billion as opposed to Rs.56.8 billion during the same period of last year.FUND OPERATIONS - AMFThe Net Asset Value per unit of AMF increased by 6.88% to Rs.505.36 as on 31 March 2013, thusproviding an annualized total return of 9.17%. The AMF’s total exposure in Treasury Bills stood at88.38% with remaining in short term deposits with banks/cash. AMF presents a good investmentopportunity for investors to earn attractive returns while maintaining high liquidity with low risk.The Net Assets of the Fund stood at Rs.3.73 billion, with 7.38 million units outstanding as of31 March 2013.The Investment Committee of Atlas Asset Management Limited, the Management Company ofAMF, under the authority delegated by the Board of Directors, approved an interim bonus distributionof Rs.3.00 per unit (0.60% on the face value of Rs.500 per unit). This is in addition to the aggregateInterim Bonus Distribution of Rs.28 per unit (5.60% on the face value of Rs.500 per unit), alreadydistributed.FUND OPERATIONS - AIFThe Net Asset Value per unit of AIF increased by 7.64% to Rs.514.59 as on 31 March 2013,this works out to 10.17% on an annualized basis. AIF’s current asset allocation is 63.33% in GovernmentSecurities, 12.56% in TFC/ Sukuks, 9.15% in MTS and remaining in bank deposits/others. AIF presentsa good investment opportunity for investors to earn attractive returns and at the same time benefitfrom any gain as a result of reversal of provisions/income. The Net Assets of the Fund increasedfrom Rs.0.93 billion as on 30 June 2012 to Rs.1.86 billion as on 31 March 2013, with 3.62 million unitsoutstanding.The Investment Committee of Atlas Asset Management Limited, the Management Company ofAIF, under the authority delegated by the Board of Directors, approved an interim bonus distributionof Rs.10.00 per unit (2.00% on the face value of Rs.500 per unit). This is in addition to the interimbonus distribution of Rs.25 per unit (5.00% on the face value of Rs.500 per unit) already distributed.FUND OPERATIONS - ASMFThe Net Asset Value per unit of ASMF increased by 32.92% to Rs.459.86 as on 31 March 2013.The benchmark KSE-100 index increased by 30.74% during the same period. The KSE- 100 increasedfrom 13,801 points as on 30 June 2012 to 18,043 points as on 31 March 2013. The ASMF’s equityportfolio exposure was mainly in Oil & Gas, Chemical and Banking sectors. ASMF’s strategy willcontinue to focus on dividend plays and stocks which are trading at relatively cheap multiples withearning growth prospects. The Net Assets of the Fund stood at Rs.869.32 million, with 1.89 millionunits outstanding as of 31 March 2013.3
Atlas FundsRATINGS Asset Manager RatingThe Pakistan Credit Rating Agency Limited (PACRA) has maintained the asset manager rating ofAtlas Asset Management Limited (AAML) at "AM2-" (AM Two Minus). The rating denotes thecompany's very strong capacity to manage the risks inherent in asset management and meets very highinvestment management industry standards and benchmarks. Fund Stability Rating - AMFPACRA has assigned a stability rating of "AA (f)" (Double A - Fund Rating) to the Fund. The Fund'srating denotes a very strong capacity to manage relative stability in returns and very low exposure torisks. Fund Stability Rating - AIFPACRA has assigned a stability rating of "A (f)" (Single A Plus - Fund Rating) to the Fund. TheFund's rating denotes a strong capacity to manage relative stability in returns and low exposure to risks. Star Ranking - ASMFPACRA has assigned a "4 Star" short term ranking to the Fund, and a long term "4 Star" ranking, forFY 2011-12. The short term ranking is based on performance during the trailing twelve months period,whereas long-term star ranking is based on performance during the trailing thirty six months.FUTURE OUTLOOKGrowth in workers' remittances helped lower the current account deficit, and the inflation is expectedto be well below target level. The private sector credit growth remains subdued as government's largefinancing need diverted the credit from the private sector, which is an impediment to growth in theeconomy. Going forward, there is a need to ensure improved resources for energy requirements withforemost resolution of the persistent circular debt. Furthermore, fiscal reforms need to be implementedto ensure better tax collection and reduced borrowing from the banking system. This will not onlyhelp the economy on the fiscal side but also help improve foreign inflows, build foreign exchangereserves and achieve sustainable growth in the economy.The Funds are committed to prudent investment procedures and will continue to provide consistentlong term returns to the investors.(There is a world beyond the stars)AcknowledgementI would like to thank the Securities and Exchange Commission of Pakistan, the Board of Directors,and the Group Executive Committee for their help, support and guidance. I also thank the financialinstitutions and the unit holders for their help, support and the confidence reposed in the Funds andthe Chief Executive Officer, Mr. M. Habib-ur-Rahman and his management team for their hard work,dedication, and sincerity of purpose.Karachi: 25 April 20134Yusuf H. ShiraziChairman
Third Quarter Report 2012 -13Atlas Money Market FundCorporate InformationTrusteeCentral Depository Company of Pakistan Limited99-B, Block ‘B’, S.M.C.H.S, Main Shahrah-e-FaisalKarachi - 74400AuditorsErnst & Young Ford Rhodes Sidat HyderChartered AccountantsLegal AdvisersBawaney & PartnersBankersBank Alfalah LimitedFaysal Bank LimitedNational Bank of Pakistan5
Atlas Money Market FundCONDENSED INTERIM STATEMENT OF ASSETS AND LIABILITIES (UN-AUDITED)AS AT 31 MARCH 201331 March30 June20132012Un-auditedAuditedNote ---------------- Rupees ---------------ASSETSBank balances and term depositsInvestmentsInterest accruedPrepaymentsDeferred formation costTotal 8626,361,835NET ASSETS3,730,255,4164,532,024,814UNIT HOLDERS' FUND3,730,255,4164,532,024,814LIABILITIESPayable to the Management CompanyPayable to the trusteePayable to SECPAccrued and other liabilitiesTotal liabilities6CONTINGENCIES AND COMMITMENTS7--NUMBER OF UNITS IN ISSUE7,381,4309,015,663NET ASSET VALUE PER UNIT505.36502.68The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.For Atlas Asset Management Limited(Management Company)M. Habib-ur-RahmanChief Executive Officer6Yusuf H. ShiraziChairmanAzam FaruqueDirector
Third Quarter Report 2012 -13CONDENSED INTERIM INCOME STATEMENT (UN-AUDITED)FOR THE NINE MONTHS AND QUARTER ENDED 31 MARCH 2013NoteINCOMEInterest incomeNet gain/(loss) on investmentsdesignated at fair value throughincome statementNet gain/(loss) on maturity/saleof investmentsNet unrealised loss on revaluationof investments8Element of income/loss and capital gains/losses included in prices of units soldless those in units redeemed - netEXPENSESRemuneration of the Management CompanySindh Sales Tax on Remuneration of theManagement CompanyRemuneration of the trusteeSECP annual feeAnnual rating feeAnnual listing feeBrokerageAuditors' remunerationPrinting chargesAmortisation of formation costBank chargesProvision for Workers' Welfare Fund6.1Net income for the period before taxationTaxation9Net income for the period after 1,936,41270,272,440113,168,490The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.For Atlas Asset Management Limited(Management Company)M. Habib-ur-RahmanChief Executive OfficerYusuf H. ShiraziChairmanAzam FaruqueDirector7
Atlas Money Market FundCONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)FOR THE NINE MONTHS AND QUARTER ENDED 31 MARCH 2013Net income for the period after taxationOther comprehensive income275,570,876-Total comprehensive income for the period ,49070,272,440113,168,490The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.For Atlas Asset Management Limited(Management Company)M. Habib-ur-RahmanChief Executive Officer8Yusuf H. ShiraziChairmanAzam FaruqueDirector
Third Quarter Report 2012 -13CONDENSED INTERIM DISTRIBUTION STATEMENT (UN-AUDITED)FOR THE NINE MONTHS ENDED 31 MARCH 2013For the Nine Months Ended31 March31 March20132012----------------- Rupees ----------------Undistributed income brought forwardFinal distribution for the year ended 30 June 2012 - Nil(2012: Rs.15 per unit declared on 7 July 2011)- Bonus units- Cash payout against final distribution5,087,897-Net income for the period after taxationInterim distribution for the month ended 31 July 2012at the rate of Rs.4 per unit declared on 27 July 2012(2012: Rs.4 per unit declared on 29 July 2011)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 31 August 2012at the rate of Rs.4 per unit declared on 31 August 2012(2012: Rs.5 per unit declared on 26 August 2011)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 30 September 2012at the rate of Rs.3.75 per unit declared on 28 September 2012(2012: Rs.5 per unit declared on 28 September 2011)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 31 October 2012at the rate of Rs.3.75 per unit declared on 31 October 2012(2012: Rs.5 per unit declared on 28 October 2011)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 30 November 2012at the rate of Rs.3.25 per unit declared on 30 November 2012(2012: Rs.4 per unit declared on 25 November 2011)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 31 December 2012at the rate of Rs.3.25 per unit declared on 26 December 2012(2012: Rs.4 per unit declared on 28 December 2011)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 31 January 2013at the rate of Rs.3.25 per unit declared on 31 January 2013(2012: Rs.4 per unit declared on 27 January 2012)- Bonus units- Cash payout against interim ,979,516)(35,544,551)70,537,29993,884,7669
Atlas Money Market FundCONDENSED INTERIM DISTRIBUTION STATEMENT (UN-AUDITED) (Continued.)FOR THE NINE MONTHS ENDED 31 MARCH 2013For the Nine Months Ended31 March31 March20132012----------------- Rupees im distribution for the month ended 28 February 2013at the rate of Rs.2.75 per unit declared on 28 February 2013(2012: Rs.4 per unit declared on 24 February 2012)- Bonus units- Cash payout against interim distributionInterim distribution for the month ended 31 March 2013at the rate of Rs.3 per unit declared on 29 March 2013(2012: Rs.4 per unit declared on 29 March 2012)- Bonus units- Cash payout against interim distributionUndistributed income carried forwardThe annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.For Atlas Asset Management Limited(Management Company)M. Habib-ur-RahmanChief Executive Officer10Yusuf H. ShiraziChairmanAzam FaruqueDirector
Third Quarter Report 2012 -13CONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UN-AUDITED)FOR THE NINE MONTHS ENDED 31 MARCH 2013For the Nine Months ended31 March 201331 March 2012UnitsNet assets at the beginning of the period[Rs.502.68 (2011: 516.97) per unit]Issue of unitsRedemption of ,185,204Element of income/loss and capital gains/lossesincluded in prices of units sold less those inunits redeemed - net-Final distribution for the year ended 30 June 2012 - Nil(2012: Rs.15 per unit declared on 7 July 2011)Issue of bonus unitsCash payout against distribution-Net income for the period after taxationOther comprehensive incomeTotal comprehensive income for the 6,658)(21,317,923)341,936,412341,936,412Interim distribution at the rate of Rs.4 declared on27 July 2012 (2012 : Rs.4 declared on 29 July 2011)Issue of bonus unitsCash payout against terim distribution at the rate of Rs.4 declared on31 August 2012 (2012 : Rs.5 declared on26 August 2011)Issue of bonus unitsCash payout against terim distribution at the rate of Rs.3.75 declared on28 September 2012 (2012 : Rs.5 declared on28 September 2011)Issue of bonus unitsCash payout against terim distribution at the rate of Rs.3.75 declaredon 31 October 2012 (2012 : Rs.5 declared on28 October 2011)Issue of bonus unitsCash payout against terim distribution at the rate of Rs.3.25 declaredon 30 November 2012 (2012 : Rs.4 declared on25 November 2011)Issue of bonus unitsCash payout against terim distribution at the rate of Rs.3.25 declaredon 26 December 2012 (2012 : Rs.4 declared on28 December 2011)Issue of bonus unitsCash payout against 249,4003,731,331,2218,286,9104,287,170,543c/f11
Atlas Money Market FundCONDENSED INTERIM STATEMENT OF MOVEMENT IN UNIT HOLDERS' FUND (UN-AUDITED)FOR THE NINE MONTHS ENDED 31 MARCH 2013For the Nine Months ended31 March 201331 March 79,516)Interim distribution at the rate of Rs.2.75 declaredon 28 February 2013 (2012: Rs.4 per unit declaredon 24 February 2012)Issue of bonus unitsCash payout against rim distribution at the rate of Rs.3 declaredon 29 March 2013 (2012: Rs. 4 per unit declaredon 29 March 2012)Issue of bonus unitsCash payout against 1,4303,730,255,4168,444,2014,259,713,504Interim distribution at the rate of Rs.3.25 declaredon 31 January 2013 (2012: Rs.4 per unit declaredon 27 January 2012)Issue of bonus unitsCash payout against distributionNet assets at the end of the period[Rs.505.36 (2012: Rs.504.45) per unit]The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.For Atlas Asset Management Limited(Management Company)M. Habib-ur-RahmanChief Executive Officer12Yusuf H. ShiraziChairmanAzam FaruqueDirector
Third Quarter Report 2012 -13CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)FOR THE NINE MONTHS ENDED 31 MARCH 2013For the Nine Months Ended31 March31 March20132012Note ----------------- Rupees ----------------Cash flows from operating activitiesNet income for the period after 595,972,890477,454,799(530,370,755)Proceeds from issue of unitsPayment on redemption of unitsCash payout against 7)3,543,275,224(2,850,090,020)(91,087,094)Net cash (used in) / inflow from financing activities(1,079,596,568)602,098,110Net (decrease) / increase in cash and cash equivalents(602,141,769)71,727,355Cash and cash equivalents at the beginning of the 58Adjustments for:Interest incomeNet (gain) / loss on investments designated at fair valuethrough income statementNet gain on maturity/sale of investmentsNet unrealised loss on revaluation of investmentsAmortization of formation costElement of income/loss and capital gains/losses includedin prices of units sold less those in units redeemed - netIncrease in prepaymentsIncrease / (decrease) in liabilitiesPayable to the Management CompanyPayable to the trusteePayable to SECPAccrued and other liabilitiesInterest receivedInvestments made during the periodInvestments matured / sold during the periodNet cash inflow from / (used in) operating activitiesCash flows from financing activitiesCash and cash equivalents at the end of the period4The annexed notes from 1 to 12 form an integral part of these condensed interim financial statements.For Atlas Asset Management Limited(Management Company)M. Habib-ur-RahmanChief Executive OfficerYusuf H. ShiraziChairmanAzam FaruqueDirector13
Atlas Money Market FundNOTES TO AND FORMING PART OF THESE CONDENSED INTERIM FINANCIALSTATEMENTS (UN-AUDITED)FOR THE NINE MONTHS ENDED 31 MARCH 20131. LEGAL STATUS AND NATURE OF BUSINESS1.1 Atlas Money Market Fund (the Fund) is an open ended Fund constituted by a trust deed dated4 December 2009 between Atlas Asset Management Limited (AAML) as the Management Companyand Central Depository Company of Pakistan Limited (CDC) as the trustee. The investmentactivities and administration of the Fund are managed by AAML situated at Ground Floor, FederationHouse, Shahrae Firdousi, Clifton, Karachi.1.2 Units of the Fund have been offered for public subscription on a continuous basis from20 January 2010, and are transferable and redeemable by surrendering them to the Fund. The Fundis listed on the Lahore Stock Exchange.1.3 According to the trust deed, the objective of the Fund is to provide its investors competitive returnsfrom a portfolio of low risk, short duration assets while maintaining high liquidity. The Fund aimsto deliver this objective mainly by investing in Government securities, cash and near cash instrumentswhich include cash in bank accounts, treasury bills, lending to/deposit with scheduled banks,certificates of deposit (CODs), certificate of musharakas (COM), commercial papers, and reverserepo; with a weighted average time to maturity of not more than 90 days, and in case of a singleasset, maximum time to maturity of six months. The investment objectives and policy are morefully defined in the Fund's offering document.2. STATEMENT OF COMPLIANCE2.1 These condensed interim financial statements have been prepared in accordance with InternationalAccounting Standard - 34 "Interim Financial Reporting", the requirements of the Trust Deed, theNon-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (the NBFC Rules),the Non-Banking Finance Companies and Notified Entities Regulations, 2008 (the NBFC Regulations)and directives issued by the SECP. In case where requirements differ, the requirements of the TrustDeed, the NBFC Rules, the NBFC Regulations or the requirements of the said directives prevail.These condensed interim financial statements do not include all the information and disclosuresrequired in the annual financial statements of the Fund and should be read in conjunction with thefinancial statements of the Fund for the year ended 30 June 2012.2.2 Standards, interpretations and amendments to published approved accounting standardsthat are effective in the current periodThe following new standards and amendments to existing standards are mandatory for the firsttime for the financial period beginning on or after 1 July 2012:The Fund has adopted the following amendments to IFRSs which became effective for the currentperiod:IAS 1 – Presentation of Financial Statements – Presentation of items of other comprehensiveincome (Amendment)IAS 12 – Income Taxes - Recovery of Underlying Assets (Amendment)The adoption of the above amendments did not have any effect on the condensed interim financialstatements.3. SIGNIFICANT ACCOUNTING POLICIESThe accounting policies applied for the preparation of these condensed interim financial statements arethe same as those applied in the preparation of the annual published financial statements of the Fundfor the year ended 30 June 2012.The preparation of these condensed interim financial statements in conformity with approved accountingstandards requires management to make estimates, assumptions and use judgments that affect theapplication of policies and reported amounts of assets and liabilities and income and expenses. Estimates,assumptions and judgments are continually evaluated and are based on historical experience and otherfactors, including reasonable expectations of future events. Revisions to accounting estimates arerecognised prospectively commencing from the period of revision.The significant judgments made by management in applying the accounting policies and the key sourcesof estimation uncertainty were the same as those that applied to financial statements as at and for theyear ended 30 June 2012.The financial risk management objectives and policies are consistent with those disclosed in the annualfinancial statements of the Fund for the year ended 30 June 2012.14
Third Quarter Report 2012 -1331 March30 June20132012Un-auditedAuditedNote ---------------- Rupees ---------------4. BANK BALANCES AND TERM DEPOSITSPLS saving accountsTerm deposit ,768,340300,000,0001,062,768,3404.1 The rate of return on these accounts ranges between 6% and 8.75% (30 June 2012: 6% and 12%)per annum.4.2 The rate of return on these deposits is 9.60% (30 June 2012: 12%) per annum. These deposits willmature by 02 May 2013 (30 June 2012: 16 July 2012).5. INVESTMENTS - Designated at fair value through income statementGovernment SecuritiesMarket Treasury Bills5.13,296,907,7453,491,055,4855.1 Market Treasury BillsTreasury billsAt thebeginningof the periodFace value (Rupees)Matured/AcquiredDisposedduring the during theperiodperiodRupeesAt theend ofthe periodAmotizedcostPercentage ofMarketValueTotalInvestments Net Assets3 Months - T-bills1,990,000,000 3,737,500,000 4,577,500,000 1,150,000,0001,140,860,153 1,140,664,28034.6030.586 Months - T-bills1,390,000,000 5,845,000,000 5,050,000,000 2,185,000,0002,157,415,293 2,156,243,46565.4057.8012 Months - T-bills190,000,000 1,830,000,000 2,020,000,000-3,570,000,000 11,412,500,000 11,647,500,000 3,335,000,000--3,298,275,446 3,296,907,745--100.0088.385.2The cost of investments as on 31 March 2013 is Rs.3,233,461,400 (30 June 2012: Rs.3,431,916,335).5.3These Market Treasury Bills carry purchase yields ranging from 9.07% to 9.74% (30 June 2012:11.50% to 11.94%) per annum and will mature between 4 April 2013 and 25 July 2013(30 June 2012: 26 July 2012 and 13 December 2012).Note31 March30 June20132012Un-auditedAudited--------------- Rupees ---------------6. ACCRUED AND OTHER LIABILITIESAuditors' remuneration payablePrinting charges payablePayable to unit holdersPayable to brokersWithholding tax payableSindh Sales Tax payable on remuneration of themanagement companyZakat payableProvision for Workers' Welfare 593,42723,130,62417,946,88615
Atlas Money Market Fund6.1The Finance Act 2008 introduced an amendment to the Workers' Welfare Fund Ordinance, 1971(WWF Ordinance). As a result of this amendment it may be construed that all Collective InvestmentSchemes / mutual funds (CISs) / pension funds whose income exceeds Rs.0.5 million in a taxyear, have been brought within the scope of the WWF Ordinance, thus rendering them liable topay contribution to WWF at the rate of two percent of their accounting or taxable income,whic
Atlas Income Fund (AIF), and Atlas Stock Market Fund (ASMF) for the nine months period ended 31 March 2013 of the FY 2012-13. THE ECONOMY During the period July-March FY 2012-13, total exports stood at US 18 billion. The foreign exchange reserves of the country stood at US 12.2
definition of a 'short-term money market fund'; therefore, all references in this paper to a 'money market fund' are references to a short-term money market fund. The use of amortised cost accounting by money market funds Much of the recent debate about money market funds (MMFs) has focused on the purported advantages of
UC Pathway Income Fund UC Pathway Fund 2015 UC Pathway Fund 2020 UC Pathway Fund 2025 . UC Pathway Fund 2030 UC Pathway Fund 2035 UC Pathway Fund 2040 UC Pathway Fund 2045 . UC Pathway Fund 2050 UC Pathway Fund 2055 UC Pathway Fund 2060 . CORE FUNDS - 13.7 billion Bond and Stock Investments . Bond Investments Short-Term UC Savings Fund
ELSS Reliance Tax Saver (ELSS) Fund RTSF 20 Arbitrage Fund Reliance Arbitrage Fund RAF 21 Thematic (International) Reliance Japan Equity Fund RJEF 22 Reliance US Equity Opportunities Fund RUSEOF 23 FIXED INCOME Overnight Fund Reliance Overnight Fund ROF 24 Liquid Fund Reliance Liquid Fund RLF 25 Money Market
UC Pathway Funds. UC Pathway Income Fund UC Pathway Fund 2020 UC Pathway Fund 2025. UC Pathway Fund 2030. UC Pathway Fund 2035 UC Pathway Fund 2040 UC Pathway Fund 2045. UC Pathway Fund 2050. UC Pathway Fund 2055 UC Pathway Fund 2060. UC Pathway Fund 2065. CORE FUNDS - 17.0 billion Bond and Stock Investments
TARGET DATE FUNDS - 9.1 billion UC Pathway Funds UC Pathway Income Fund UC Pathway Fund 2020 UC Pathway Fund 2025 UC Pathway Fund 2030 UC Pathway Fund 2035 UC Pathway Fund 2040 UC Pathway Fund 2045 UC Pathway Fund 2050 UC Pathway Fund 2055 UC Pathway Fund 2060 UC Pathway Fund 2065 CORE FUNDS - 12.9 billion Bond and Stock Investments Bond .
CIBC Balanced Fund . CIBC Dividend Income Fund. 3. CIBC Dividend Growth Fund. 3. CIBC Canadian Equity Fund. 3. CIBC Canadian Equity Value Fund. 3. CIBC Canadian Small-Cap Fund . CIBC U.S. Equity Fund. 3 CIBC U.S. Small Companies Fund. 3. CIBC Global Equity Fund . CIBC International Equity Fund. 3. CIBC European Equity Fund. 3. CIBC Emerging .
and deployment of funds. Money market is the instrument which have less than one year as a maturity period. The most active part of money market is the overnight call money and term money between the Banks, Financial Institutions, as well as Call Money market transaction. Call money or Repo are the two short term money market products.
S1 Akuntansi Pendidikan Profesi: PPAk S2 Magister Science, Magister Terapan S3 Ilmu Akuntansi Pendidikan IAI: KAPd. dan KASP Asosiasi Profesi Akuntansi: IAPI dan IAMI Asosiasi Profesi lain terkait akuntansi dan Internasional –Internal Auditor, CISA, ACCA, CMA, CIMA, CPA Negara lain Asosiasi Profesi PPAJP Kemenkeu Kemendiknas - DIKTI BNSP OJK Internasional .
