Net Asset Value(s)

RNS Number : 6732G

The Family Shariah Fund Ltd

16 May 2011

 



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 2011 - including income was US $0.9186*.

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

Period 31 March 2011 (opening) - 30 April 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,601,553	28,983,024
NAV* per Ordinary Share	0.9065	0.9186

The portfolio was up 1.33% for the month of April. This strong performance came mainly from the equity allocation as equity markets, as measured by MSCI World Islamic Index, returned 4.34%. The Investment Manager's decision to rotate out of Sukuks in March and into equities proved to be correct as equities out-performed Sukuks by 3.50%.

Asset Allocation:

-     17.6% in Cash and Cash Like Instruments

-     17.0% in Islamic Income

-     32.1% in Equities

-     3.5% in Alternatives

-     15.7% in Private Equity

-     14.1% 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

 

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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