Net Asset Value(s)

RNS Number : 3943M

The Family Shariah Fund Ltd

15 August 2011

 



The Family Shari'ah Fund Limited

('FSF' or the 'Company')

NET ASSET VALUE

15 August 2011

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 July 2011 - including income was US $0.9288*.

The Net Asset Value position* as at 30 June 2011 and 31 July 2011 and the portfolio allocation as at 31 July 2011 is summarised below.

Period 30 June 2011 (opening) - 31 July 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	29,343,656	29,304,823
NAV* per Ordinary Share	0.9301	0.9288

The market proved to be very volatile and resulted in equity markets being down 1.5% as represented by the MSCI World Islamic Index. The portfolio proved to be resilient in face of this volatility and finished down only 14bps in the month of July. Income related instruments such as Sukuks, Alternative & Real Estate helped temper this volatility. The Investment Manager reduced by 10% the Fund's exposure to the equity markets in the 3^rd week of July as further volatility was anticipated.

Asset Allocation as at 31 July 2011:

-     19.2% in Cash and Cash Like Instruments

-     16.9% in Islamic Income

-     25.2% in Equities

-     3.5% in Alternatives

-     17.8% in Private Equity

-     17.4% 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 (Nomad and Broker)	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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