3rd Quarter Results

RNS Number : 8619U
The Family Shariah Fund Ltd
25 October 2010
 



FOR IMMEDIATE RELEASE 

October, 25 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 Q3 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 subject to six monthly 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: +973 17221177

Manoj Ranawat






Religare Capital Markets (Nominated Adviser and Broker)

Tel: +44 (0) 207 444 0800

James Pinner / Derek Crowhurst 




 



 

BALANCE SHEET AS AT SEPTEMBER 30, 2010*

ASSETS




USD



Bank accounts



                  6,433,337



Cost of investment mutual funds



                  15,626,555



Cost of Sukuk Investment



                    5,675,854



App/depr Investment



498,051



SUKUK Receivable



36,152



Prepaid expenses and deferred costs



351,978









ASSETS TOTAL




28,621,927



LIABILITIES







Management fee payable



104,984



Expense payables



30,001



Directors fee payable



30,787



Due to the Investment Manager



345,814











LIABILITIES TOTAL




511,586












NET ASSET VALUE




28,110,341



SHAREHOLDER CAPITAL







The Family Shari'ah Fund Class A USD Series 1



28,110,341











SHAREHOLDER CAPITAL TOTAL




28,110,341



 

*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to six monthly 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 JULY 1, 2010 TO SEPTEMBER 30, 2010*












USD








Realised gain/loss


Realised gain/loss


-

Unrealised gain/loss


Unrealised p/l settled


1,115,651

Other income


Sukuk Income


53,337

Other income


Yield Income


52,466

Dividend income


Dividends income


-






Other expenses


Investment expenses


-

Other expenses


Administrative expenses


(212,644)






Investment management fee expense


Management fee


(104,984)







TOTAL





903,826

 

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

Asset Allocation as of September 30, 2010*








Assets Class

%

No. of investments

Market Value





Cash and Cash like Instruments

23.1%

1

6,433,337

Equities

29.7%

4

8,288,794

Islamic income

21.1%

3

5,898,299

Private Equity

14.9%

14

4,160,553

Real Estate

11.2%

2

3,133,890

 

 

Top 5 Positions by Market value as of September 30, 2010*



Security

CCY

Quantity

Market Price

Market Value






Allianz RCM Islamic Global Equity Opportunities Fund

USD

3,086.7620

855.38

2,640,354

BNP Paribas Islamic Fund - Equity Optimiser

USD

20

126,011

2,520,222

Petronas Sukuk - 4.25% 08/12/14

USD

2,000,000

1.0555

2,111,009

IDB Trust Services Ltd - 3.172% 09/16/14

USD

2,000,000

1.0381

2,076,278

GE Capital Ltd Sukuk -  3.78% 26/11/2014

USD

1,675,000

1.0215

1,711,013






 

 

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

28-Feb-2011

28 February

NAV

20 business days

Announced

28-Mar-2011

31 March

NAV

20 business days

Announced

01-May-2011

31 March

Quarterly Financial information

30 days

Announced

29-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

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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