Net Asset Value(s)

RNS Number : 8668P

The Family Shariah Fund Ltd

10 October 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 Sep 2011 - including income was US $0.8970*.

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

Period 31 Aug 2011 (opening) - 30 Sep 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,814,037	28,299,083
NAV* per Ordinary Share	0.9133	0.8970

September was another volatile month with the equity markets down for the third month in a row. Investors started factoring in the possibility of a double dip scenario as macroeconomic indicators continued to deteriorate. At the same time, sentiment remained weak due to lack of clarity from European policymakers to handle the sovereign debt crisis. FSF's Net Asset Value finished the month down 1.78%. Equities were the major detractor to the performance as equity markets, as measured by the MSCI World Islamic Index, were down close to 10% for the month. The investment manager kept its powder dry for the majority of the month and added to its equity allocation toward month end. In addition, further capital was added to the real estate yielding portfolio.

Asset Allocation as at 30 September 2011:

-     18.4% in Cash and Cash Like Instruments

-     8.0% in Islamic Income

-     27.3% in Equities

-     3.6% in Alternatives

-     19.1% in Private Equity

-     23.6% 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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