Net Asset Value

RNS Number : 6852F
The Family Shariah Fund Ltd
13 October 2008
 




For Immediate Release

13 October 2008


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 September 2008 including income was US $0.9536.

The movement in Net Asset Value between the last valuation and 30 September 2008 and the portfolio allocation as at 30 September 2008 is summarised below. Furthermore, the Investment Manager has published a market and Islamic finance market review which can be found on the Company's website at www.familyshariahfund.com/news.

                

Period August 31 2008 (opening) - September 30 2008 (closing) 

All figures in US$


US$

Opening

Closing

Net Asset Value

31,176,675.72

30,087,524.21

NAV per Ordinary Share 

0.9882

0.9536



The Investment Manager deployed more capital over the period into equities worldwide in order to increase FSF's exposure to this asset class


The Investment Manager invested equally into 4 Private Equity co-investments: 

  • A large US energy company;

  • A UK based pharmaceutical retailer;

  • A US based medical equipment company;

  • A global R&D and mobile technology development company.



No capital has been deployed into alternative investments or real estate and there has been no change within Islamic income, resulting in the following rounded asset allocation as at 30 September 2008:


 

·        64% in cash and cash like instruments
·        10% in Islamic income
·        20% in equities
·        6% in Private Equity





For further information, please contact:

The Family Office

Tel: +973 (17) 221177

Richard Joye, Projects Manager 




Blomfield Corporate Finance

Tel: +44 (0)20 7489 4500

James Pinner / John Simpson / Alan MacKenzie




Buchanan Communications

Tel: +44 (0)20 7466 5000

Bobby Morse / James Strong



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.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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