Net Asset Value(s)

RNS Number : 3875D

The Family Shariah Fund Ltd

22 March 2011

 



The Family Shari'ah Fund Limited

('FSF' or the 'Company')

NET ASSET VALUE AND CHANGE OF BROKER

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 28 Feb 2011 - including income was US $0.9019*.

The Company also announces that, with effect from 1 February 2011, the Company's Broker changed from Religare Capital Markets (UK) Limited to Religare Capital Markets plc.

The Net Asset Value position* as at 31 Jan 2011 and 28 Feb 2011 and the portfolio allocation as at 28 Feb 2011 is summarised below.

Period 31 Jan 2011 (opening) - 28 Feb 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,332,509	28,454,018
NAV* per Ordinary Share	0.8980	0.9019

The portfolio was up 0.4289% for the month of February. This performance came mainly from equity allocation and accruals from the Sukuks, Alternative Investments and Real Estate. The investment manager did not deploy any new capital in this month as it is waiting for more compelling entry points to the equity market.

Asset Allocation:

-     15.4% in Cash and Cash Like Instruments

-     24.2% in Islamic Income

-     26.0% in Equities

-     3.5% in Alternatives

-     16.5% in Private Equity

-     14.4% in Real Estate

Notes:

* All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to 6 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	Tel: [phone]
Manoj Ranawat
Religare Capital Markets	Tel: [phone]
James Pinner / Derek Crowhurst (Nomad)
Daniel Briggs (Broker)

 

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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