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: [phone]
Manoj Ranawat
Religare Capital Markets (Nominated Adviser and Broker)	Tel: [phone]
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.

 

END

 

 

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