Net Asset Value(s)

RNS Number : 9521S

The Family Shariah Fund Ltd

20 September 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 Aug 2010 - including income was US $0.8667*.

The Net Asset Value position* as at 31 July 2010 and 31 Aug 2010 and the portfolio allocation as at 31 Aug 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 July 2010 (opening) - 31 Aug 2010 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	27,755,613	27,344,051
NAV* per Ordinary Share	0.8797	0.8667

The investment manager received a return of equity capital resulting from the recapitalization of one of the properties in the real estate allocation. The Investment Manager will look to deploy the cash received from this recapitalization into other real estate investments with the objective of maximizing the income in the short-term and capital gains in the mid-to-long term.

Asset Allocation:

-     23.8 % in Cash and Cash like Instruments

-     28.0% in Equities

-     21.7% in Islamic income

-     15.4 % in Private Equity

11.1% 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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