1st Quarter Results

RNS Number : 5017F

The Family Shariah Fund Ltd

27 April 2011

 



FOR IMMEDIATE RELEASE

April, 27 2011

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 the quarter ended 31 March 2011*.

The Company would also like to clarify the timing of future announcements for 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 subject to 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]
Manoj Ranawat
Religare Capital Markets (Nominated Adviser and Broker)	Tel: [phone]
James Pinner / Derek Crowhurst

BALANCE SHEET AS AT MARCH 31, 2011*
ASSETS					USD
Bank accounts					5,089,853
Cost of investment mutual funds					17,944,133
Cost of SUKUK Investment					4,788,304
App/depr Investment					854,128
SUKUK and other Receivable					156,662
Prepaid expenses and deferred costs					125,326
ASSETS TOTAL					28,958,406
LIABILITIES
Management fee payable					105,404
Expense payables					40,645
Directors and SSB fee payable					41,583
Due to the Investment Manager					169,222
LIABILITIES TOTAL					356,854
	NET ASSET VALUE				28,601,552
SHAREHOLDER CAPITAL
The Family Shari'ah Fund Class A USD Series 1					28,601,552
SHAREHOLDER CAPITAL TOTAL					28,601,552

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to 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, 2011 TO MARCH 31, 2011*
					USD
Realised gain/loss			Realised gain/loss		161,699
Unrealised gain/loss			Unrealised p/l settled		263,134
Other income			SUKUK Income		60,599
Other income			Yield and other Income		175,613
Dividend income			Dividends income		-
Other expenses			Investment expense		(10,120)
Other expenses			Administrative expenses		(190,553)
Investment management fee expense			Management fee		(105,404)
TOTAL					354,968

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to 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, 2011*
Assets Class	%	No. of investments	Market Value
Cash and Cash like Instruments	17.4%	1	5,098,853
Equities	30.5%	4	8,940,659
Islamic income	16.5%	2	4,847,185
Private Equity	15.7%	18	4,604,563
Alternative Investment	3.4%	1	1,000,000
Real Estate	16.5%	10	4,815,008

Top 5 Positions by Market value as of March 31, 2011*
Security	CCY	Quantity	Market Price	Market Value
Allianz RCM Islamic Global Equity Opportunities Fund	USD	3,086.762	968.16	2,988,479
BNP Paribas Islamic Fund - Equity Optimiser	USD	20	134,023	2,680,460
Malaysia Sukuk Global - 3.928% 04/06/2015	USD	2,500,000	1.0417	2,604,159
GE Capital Ltd Sukuk -  3.78% 26/11/2014	USD	2,175,000	1.0313	2,243,026
iShares MSCI Emerging Market Islamic	USD	79,088	22.93	1,813,488

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to 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

Date	Event	Due to be announced by *	For 2010	For 2011
31 January	NAV	20 business days	Announced	Announced
28 February	NAV	20 business days	Announced	Announced
31 March	NAV	20 business days	Announced	Announced
31 March	Quarterly Financial information	30 days	Announced	27-Apr-2011
30 April	NAV	20 business days	Announced	31-May-2011
31 May	NAV	20 business days	Announced	28-June-2011
30 June	NAV	20 business days	Announced	28-July-2011
30 June	Half Year results **	3 months	Announced	30-Sep-2011
31 July	NAV	20 business days	Announced	26-Aug-2011
31 August	NAV	20 business days	Announced	28-Sep-2011
30 September	NAV	20 business days	Announced	28-Oct-2011
30 September	Quarterly Financial information	30 days	Announced	28-Oct-2011
31 October	NAV	20 business days	Announced	28-Nov-2011
30 November	NAV	20 business days	Announced	30-Dec-2011
31 December	NAV	20 business days	Announced	28-Jan-2012
31 December	Full Year results ***	6 Months	03-May-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.

 

END

 

 

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