Net Asset Value(s)

RNS Number : 5176X

The Family Shariah Fund Ltd

16 February 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 Jan 2012 - including income was US $0.9176*.

The Net Asset Value position* as at 31 Dec 2011 and 31 Jan 2012 and the portfolio allocation as at 31 Jan 2012 is summarised below.

Period 31 Dec 2011 (opening) - 31 Jan 2012 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	29,061,600	28,951,449
NAV* per Ordinary Share	0.9211	0.9176

FSF was down 0.38% for the month of January. The majority of the losses came from the market - to - market valuations of private equity transactions. We expect these valuations to improve along with the market improvement. The portfolio manager did not effectuate any major transactions throughout the month. Macroeconomic indicators especially in relation to global manufacturing and US unemployment came much better than expected. In addition, the ECB support to the banking sector through its 3 year loan facility (LTRO) reduced the risk of contagion in Europe. This translated into a very strong performance for the equity markets where the MSCI World Islamic Index returned approximately 4%.

Asset Allocation at end of January

Cash 20.3%

Islamic Income 18.5%

Equities 15.9%

Alternatives 3.5%

Private Equity 18.8%

Real Estate 23%

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]
David Porter / Rick Thompson

 

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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