Net Asset Value(s)

RNS Number : 3742H

The Family Shariah Fund Ltd

19 February 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 31 January 2010 - including income was US $0.8745*.

The Net Asset Value position* as at 31 December 2009 and 31 January 2010 and the portfolio allocation as at 31 January 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 December 2009 (opening) - 31 January 2010 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,039,687	27,591,104
NAV* per Ordinary Share	0.8887	0.8745

The investment manager is in the view that 2010 will see major policy decisions taken by central banks and governments throughout the world. This will be noted by a series of market volatility like the one seen in January. The investment manager is therefore looking to position the portfolio by following a barbell strategy of both liquid & illiquid opportunities and maintain enough dry powder to navigate throughout this market volatility. The portfolio resulted in the following rounded asset allocation as at 31 January 2010:

-     37.1 % in cash and cash like instruments

-     21.4 % in Equities

-     27.6 % in Islamic income

-     13.9 % 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 / 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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