Net Asset Value(s)

RNS Number : 6069D

The Family Shariah Fund Ltd

17 May 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 Company provided by the Fund Administrator - Apex Fund Services (Ireland) Limited as at 30 Apr 2012 - including income was US $0.9190*.

The Net Asset Value position* as at 31 Mar 2012 and 30 Apr 2012 and the portfolio allocation as at 30 Apr 2012 is summarised below

Period 31 Mar 2012 (opening) - 30 Apr 2012 (closing)
All figures in US$

US$	Opening	Closing
Net Asset Value *	29,119,189	28,992,940
NAV* per Ordinary Share	0.9230	0.9190

FSF was down approximately 0.43% in the month of April. This was mainly through the results of losses in the equity allocation. In fact, after three strong months of the year, weakness has reappeared in the market as political factors in Europe begin to weigh again. In light of this weakness and in anticipation of further weakness in the market, the investment manager reduced equities exposure from 16.6% to 5.3% and increased cash from 24.1% to 35.5%.

Asset Allocation at end of April 2012 is:

Cash 35.5%

Islamic Income 18.7%

Equities 5.3%

Private Equity 18.5%

Real Estate 22.0%

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 (UK) Limited) (Nomad and Broker)	Tel: [phone]
Richard Thompson, David Porter

 

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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