1st Quarter Results

RNS Number : 1270L

The Family Shariah Fund Ltd

30 April 2010

 



THE FAMILY SHARI'AH FUND LIMITED

(the 'Company')

Quarterly Results

The Family Shari'ah Fund Limited, a multi-asset class fund providing investors with exposure to a variety of Shari'ah compliant investments predominantly outside of the GCC region, is pleased to announce its quarterly results for Q1 2010*.

The Company would also like to clarify the timing of future announcements in 2010 and 2011 as previously stated in the Company's Admission Document.  These quarterly results, the financial timetable and a monthly investment manager's report are also available on the Company's website (www.familyshariahfund.com).

Note

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.

For further information, please contact: 

The Family Office (Investment Manager)	Tel: [phone]
Andrew Paine - CFO
Richard Joye - Projects Manager
Religare Capital Markets (Nominated Adviser and Broker)	Tel: [phone]
James Pinner / Derek Crowhurst

BALANCE SHEET AS AT MARCH 31, 2010*
ASSETS					USD
Bank accounts					10,291,964
Cost of investment mutual funds					12,204,665
Cost of SUKUK Investment					5,675,854
App/depr settled					126,453
SUKUK Receivable					35,977
Prepaid expenses and deferred costs					474,735
ASSETS TOTAL					28,809,648
LIABILITIES
Management fee payable					102,920
Expense payables					42,916
Directors fee payable					60,879
Due to the Placing Agent					515,959
LIABILITIES TOTAL					722,674
	NET ASSET VALUE				28,086,974
SHAREHOLDER CAPITAL
The Family Shari'ah Fund Class A USD Series 1					28,086,974
SHAREHOLDER CAPITAL TOTAL					28,086,974

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.

PROFIT & LOSS STATEMENT FOR THE PERIOD JANUARY 1, 2010 TO MARCH 31, 2010*
					USD
Realised gain/loss			Realised gain/loss		132,532
Unrealised gain/loss			Unrealised p/l settled		308,133
Other income			SUKUK Income		78,411
Other income			Profit on Murabaha Trade		-
Dividend income			Dividends income		-
Other expenses			Investment expense		(169,298)
Other expenses			Administrative expenses		(199,571)
Investment management fee expense			Management fee		(102,921)
TOTAL					47,286

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.

Asset Allocation as of  March 31, 2010*
Assets Class	%	No. of investments	Market Value
Cash and Cash like Instruments	36.4%	1	10,291,964
Equities	22.2%	3	6,272,850
Islamic income	20.1%	3	5,685,590
Private Equity	14.3%	14	4,048,532
Real Estate	7.0%	2	2,000,000

Top 5 Positions by Market value as of  March 31, 2010*
Security	CCY	Quantity	Market Price	Market Value
Ishares II PLC - Ishares MSCI World Islamic	USD	100,800	21.13	2,129,904
Allianz RCM Islamic Global Equity Opportunities Fund	USD	3,086.7620	836.65	2,582,539
IDB Trust Services Ltd - 3.172% 09/16/14	USD	2,000,000	0.99756	1,995,116
Petronas Sukuk - 4.25% 08/12/14	USD	2,000,000	1.01192	2,023,849
GE Capital Ltd Sukuk -  3.78% 26/11/2014	USD	1,675,000	0.99500	1,666,625

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.

Financial Timetable for 2010 and 2011 announcements [Can we put these in day/month/year format and remove those already reported]

Date	Event	Due to be announced by *	For 2010	For 2011
31 March	NAV	20 business days	Released	01-May-2011
31 March	Quarterly Financial information	30 days	Released	29-Apr-2011
30 April	NAV	20 business days	01-June-2010	31-May-2011
31 May	NAV	20 business days	28-June-2010	28-June-2011
30 June	NAV	20 business days	28-July-2010	28-July-2011
30 June	Half Year results **	3 months	30-Sep-2010	30-Sep-2011
31 July	NAV	20 business days	27-Aug-2010	26-Aug-2011
31 August	NAV	20 business days	28-Sep-2010	28-Sep-2011
30 September	NAV	20 business days	28-Oct-2010	28-Oct-2011
30 September	Quarterly Financial information	30 days	29-Oct-2010	28-Oct-2011
31 October	NAV	20 business days	26-Nov-2010	28-Nov-2011
30 November	NAV	20 business days	30-Dec-2010	30-Dec-2011
31 December	NAV	20 business days	31-Jan-2011	28-Jan-2012
31 December	Full Year results ***	6 Months	29-Apr-2011	29-Apr-2012

* As stated in Admission Document

** Although this is a fiscal quarter, limited quarterly financial information will not be disclosed as fuller half-year information will be produced

*** Although this is a fiscal quarter, limited quarterly financial information will not be disclosed as audited full-year information will be produced

Notes to Editors

The Family Shari'ah Fund Limited is the first multi-asset class fund to gain admission to AIM and provides investors with exposure to a variety of Shari'ah Compliant investments predominantly outside of the GCC region.

The Company's investing policy, as defined by the AIM Rules, is available on the Company's website at www.familyshariahfund.com/investing_policy.html.

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