Net Asset Value(s)

RNS Number : 0517E

The Family Shariah Fund Ltd

14 December 2009

 



The Family Shari'ah Fund Limited 

('FSF' or the 'Company')

NET ASSET VALUE

The Directors today announce that the estimated Net Asset Value per ordinary share of US $0.01 each ("Ordinary Share") based on the estimated value of The Family Shari'ah Fund Limited provided by the Fund Administrator - Apex Fund Services (Ireland) Limited as at 30 November 2009 - including income was US $0.8867*.

The Net Asset Value position* as at 31 October 2009 and 30 November 2009 and the portfolio allocation as at 30 November 2009 is summarised below. Furthermore, the Investment Manager will shortly publish its market and Islamic finance market review which will be found on the Company's website at www.familyshariahfund.com/news.

Period 31 October 2009 (opening) - 30 November 2009 (closing) 

All figures in US$

US$	Opening	Closing
Net Asset Value *	27,844,843	27,976,263
NAV* per Ordinary Share	0.8826	0.8867

The Investment Manager has modified the asset allocation during the period, increasing the exposure to Islamic income, equities and Private Equity. Within Islamic income, the Investment Manager has increased the allocation to Sukuks, with the addition of one security. The Investment Manager operated a rebalancing of the equities holdings, in order to decrease the allocation to emerging market while increasing the overall exposure to this asset class.

Three Private Equity transactions were closed during the period, in the healthcare, the education and the medical technology sectors.

The above transactions resulted in the following rounded asset allocation as at 30 November 2009:

• 43 % in cash and cash like instruments

• 21.7 % in Equities 

• 24 % in Islamic income

• 11.3 % in Private Equity*

Notes:

* 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	Tel: [phone]
Richard Joye, Head of Client Service
Blomfield Corporate Finance	Tel: [phone]
James Pinner / Alan MacKenzie

This announcement should be read in conjunction with the Admission Document. Terms defined in the Admission Document have the same meaning when used in this announcement.

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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