Net Asset Value(s)

RNS Number : 1552M

The Family Shariah Fund Ltd

19 May 2010

 



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 April 2010 - including income was US $0.8886*.

The Company also announces that it has, today, posted the full year-end accounts and the notice of AGM to shareholders, copies of which will be available on the Company's website (www.familyshariahfund.com). As previously announced, the AGM will be held on 15 June 2010.

The Net Asset Value position* as at 31 March 2010 and 30 April 2010 and the portfolio allocation as at 30 April 2010 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 March 2010 (opening) - 30 April 2010 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,086,974	28,036,291
NAV* per Ordinary Share	0.8902	0.8886

The Investment Manager switched the allocation of equities to be more defensive. This allocation was through investment in strong quality companies paying high dividends. The investment manager has, therefore, lowered the volatility of the portfolio with the objective of further protection of the capital on market downside.

This resulted in the following asset allocation at 30 April 2010:

-     34.4 % in Cash and Cash like Instruments

-     23.7% in Equities

-     20.3% in Islamic Income

-     14.5 % in Private Equity*

-     7.1% in Real Estate

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
Religare Capital Markets (Nomad and Broker)	Tel: [phone]
James Pinner / Derek Crowhurst / 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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