Atlas Asset Management recently launched an investment fun to give Puerto Rico residents the option to divest their savings in an instrument that is not tied to government debt.
The Atlas US Tactical Income Fund requires a minimum investment of $2,500.
“The Atlas U.S. Tactical Income Fund is currently the only fund available to the general public with a minimum investment of $2,500, which guarantees daily liquidity and is diversified, without the requirement to invest in government instrumentalities and Puerto Rico corporations,” said Paul Hopgood, president of Atlas Asset Management.
“The peculiarity of the Fund is that it will be invested in instruments with guarantees from institutions in the U.S. and internationally, to overcome the challenges of the local economy,” said the executive who has 17 years of experience in the investment industry.
The Fund began its operation on Sept. 30, 2015, responding to a law created in 2013, which was developed with the intention to protect the local investor and temper the investment laws to federal requirements, he explained.
Atlas Asset Management is a consulting company that operates independently and free from conflict of interests with other organizations within the same industry and aims to maximize total return on investment.
Meanwhile, the Fund has the support of institutions like Oriental Financial Services, Consultiva International, Kovack Securities and Nationwide Planning Associates.
“Recognizing that times have changed and that many investors want to have recurring income, the fund allows monthly income distribution,” said Jaime Pandal, vice president of Atlas and portfolio manager of the fund.
“For this reason at least 80 percent is invested in fixed income instruments with high investment and up to 20 percent in large cap companies in the U.S.,” he said, adding the fund has a preferential tax treatment compared to passive income.
In little more than a year, the Atlas U.S. Tactical Income Fund has managed assets that now exceed $39 million. Meanwhile, consistent with transparency practices of stateside investment vehicles, relevant information on the fund is published monthly on its website, company executives said.