Atlas Asset Management Limited’s Atlas Fund of Funds corrigendum regarding upcoming conversion to open end fund under clause 65 of NBFC regulations, 2008

Karachi: This is in continuation of our letter no. AAML/11-12/Co.Sec./114/2210 dated January 31, 2012 (copy enclosed). intimating your office of the upcoming requirement of holding of certificate holders’ meeting of Atlas Fund of Funds (ATFF), as required under Clause 65 of the Non Banking Finance Companies and Notified Entities Regulations, 2008 (NBFC Regulations, 2008).

In this connection, we, Atlas Asset Management Limited (AAML) would like to clarify that in paragraph 3 of the said letter, the due date of holding such meeting in the current calendar year was inadvertently mentioned as “by October 20, 2012″ instead of the correct date of “by December 20, 2012″. The rectified paragraph is re-stated below for ease of convenience:

“We further inform you that the requirements to convene such meeting of the certificate holders of ATFF shall fall due in the current calendar year, by December 20, 2012.”

The above corrigendum is being issued after obtaining necessary clarification from the Securities and Exchange Commission of Pakistan, received vide their email message dated April 4, 2012.

The above information has been placed on the Company’s website www.atlasfunds.com.pk and may be downloaded there from.

Atlas Fund of Funds Upcoming Conversion to Open End Fund Under Clause 65 of NBFC Regulations, 2008

This is with reference to our closed end fund, Atlas Fund of Funds (ATTF), which is listed at the Karachi Stock Exchange.

We have to inform you that under Clause 65 of the Non Banking Finance Companies and Notified Entities Regulations, 2008 (NBFC Regulations, 2008), ATFF, being a closed end fund will be required to seek approval of the certificate holders whether to convert the ATFF into an open end fund, or revoke it, within five years from November 21, 2007, or the date of launch, whichever is later, in accordance with the manner prescribed in the said Clause.

We further inform you that the requirements to convene such meeting of the certificate holders of ATFF shall fall due in the current calendar year, by October 20, 2012.

The above information has also been placed on the Company’s website www.atlasfunds.com.pk and may be downloaded there from.

For more information, contact:
Lilly R. Dossabhoy
Company Secretary
Atlas Asset Management Limited
Ground Floor, Federation House,
Shahrah-e-Firdausi, Clifton,
Karachi- 75600, Pakistan.
Ph: (92-21) 35379501- 04
Fax: (92-21) 35379280
UAN: 111- MUTUAL (6-888-25)
Website: www.atlasfunds.com.pk

Leave a Reply