Net Asset Value(s)

RNS Number : 2598O

The Family Shariah Fund Ltd

15 September 2011

 



The Family Shari'ah Fund Limited

('FSF' or the 'Company')

NET ASSET VALUE

15 September 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 Aug 2011 - including income was US $0.9133*.

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

Period 31 July 2011 (opening) - 31 Aug 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	29,304,823	28,814,037
NAV* per Ordinary Share	0.9288	0.9133

August continued to be a volatile month on growing concerns of double dip recession, the European sovereign crisis and with S&P downgrading the US. Equity markets reached a new low for the year and finished the month down 7%. While we are never satisfied with any level of losses, we have managed to capture much less of the market correction. FSF's NAV therefore finished the month down 1.67% in August. Income related instruments such as Sukuks, Alternative & Real Estate helped temper this volatility. In addition, some tactical trading in the equity markets helped reduce the losses and raising cash during the month of August from 19% to 35% turned out to be the correct decision. The portfolio manager remains cautious yet flexible to take advantage of the volatility in this market.

Asset Allocation as at 31 August 2011:

-     34.5% in Cash and Cash Like Instruments

-     7.9% in Islamic Income

-     18.5% in Equities

-     3.5% in Alternatives

-     18.0% in Private Equity

-     17.6% 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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