Net Asset Value(s)

RNS Number : 7578V

The Family Shariah Fund Ltd

18 January 2012

 



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 Dec 2011 - including income was US $0.9211*.

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

Period 30 Nov 2011 (opening) - 31 Dec 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,977,773	29,061,600
NAV* per Ordinary Share	0.9185	0.9211

FSF finished the month of December up 0.2893% and returned 2.88% YTD net of all fees for its investors. The month of December was another month of high volatility where the MSCI World Islamic Index dropped by 5% in the beginning to recover most of the losses in the last 10 days of the month. The Investment Manager realised gains by selling some of its equity position intra-month in addition to the income it generated from the Sukuks, Alternatives & Real Estate assets. The investment manager intends to continue to be nimble and flexible in the public markets as uncertainty still remains in the market and economy.

Asset Allocation at end of December 2011

Cash 20.3%

Islamic Income 18.3%

Equities 15.1%

Alternatives 3.5%

Private Equity 19.9%
Real Estate 22.9%

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 (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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