Q1 Results

RNS Number : 0469R

The Family Shariah Fund Ltd

23 April 2009

 



FOR IMMEDIATE RELEASE

23 April 2009

THE FAMILY SHARI'AH FUND LIMITED

(the 'Company')

Quarterly Results

The Family Shari'ah Fund Limited, a multi-asset class fund providing investors with exposure to a variety of Shari'ah compliant investments predominantly outside of the GCC region, is pleased to announce its third quarterly results for the period to 31 March 2009 following the commencement of trading of its shares on AIM on 25 July last year. 

The Company would also like to clarify the timing of future announcements in 2009 as previously stated in the Company's Admission Document.  These quarterly results, the financial timetable and the latest monthly investment manager's report are also available on the Company's website (www.familyshariahfund.com).

For further information, please contact: 

The Family Office (Investment Manager)	Tel: [phone]
Andrew Paine - CFO
Richard Joye - Projects Manager
Blomfield Corporate Finance (Nominated Adviser)	Tel: [phone]
James Pinner / John Simpson / Alan MacKenzie
Buchanan Communications (Public Relations)	Tel: [phone]
Bobby Morse / James Strong

BALANCE SHEET AS AT MARCH 31, 2009
ASSETS					USD
Bank accounts					16,903,508.79
Cost of investment mutual funds					9,297,963.63
App/depr settled mutual funds					(1,602,728.13)
Murabaha Receivable					3,091,249.99
Deferred Incorporation Costs					766,355.16
Prepaid Marketing Fees					9,567.10
Prepaid Insurance Prepaid License Fee					63,402.10 1,594.24
Prepaid Listing Fee					2,182.86
Prepaid Blomfield Fees					3,940.27
ASSETS TOTAL					28,537,036.01
LIABILITIES
Management fee payable					102,299.67
Administration fees payable					4,400.00
Audit fee payable					62,016.79
Shari'ah Supervisory Board Salaries & Fees Payable					136,494.73
Directors fee payable					20,000.00
Legal fees payable					48,737.35
Other expenses Payable					9,799.32
Due to the Placing Agent					867,262.49
Unearned Murabaha Income					30,000.18
LIABILITIES TOTAL					1,281,010.53
	NET ASSET VALUE				27,256,025.48
SHAREHOLDER CAPITAL
The Family Shari'ah Fund Class A USD Series 1					27,256,025.48
SHAREHOLDER CAPITAL TOTAL					27,256,025.48

PROFIT & LOSS STATEMENT FOR THE PERIOD JANUARY 1, 2009 TO MARCH 31, 2009
					YTD USD
Realised gain/loss			Realised gain/loss mutual funds		(499,275.37)
Unrealised gain/loss			Unrealised p/l settled mutual funds		(117,314.67)
Other income			Profit on Murabaha Trade		22,503.42
Dividend income			Dividends income		3,968.60
Other expenses			Organisation expense		(84,112.14)
Other expenses			Insurance expense		(54,344.70)
Other expenses			Shari'ah Supervisory Board Salaries & Fees		(44,810.67)
Other expenses			Directors fee expense		(20,000.00)
Other expenses			Commission		(7,317.23)
Other expenses			Administration fee expense		(13,200.00)
Other expenses			Audit fee expense		(12,205.48)
Other expenses			Professional Fees		(22,865.95)
Other expenses			Other Expenses		(61,106.81)
Investment management fee expense			Management fee		(102,300.28)
TOTAL					(1,012,381.29)

Positions as of  March 31, 2009
Security	CCY	Quantity	Market Price	Market Value
Alahli Diversified US Dollar Trade Fund	USD	2,526,875.9367	1.202300	3,038,062.94
AlAhli Emerging Markets Equity Fund	USD	691,045.3180	0.668100	461,687.38
Allianz RCM Islamic Global Equity Opportunities Fund	USD	1,470.090999	655.550000	963,718.15
iShares MSCI Emerging Market Islamic	USD	57,488.0000	11.670000	670,884.96
iShares MSCI World Islamic	USD	86,200.0000	14.940000	1,287,828.00
TFO Shari'ah Co-Investment Fund SPC - Class AA	USD	450.0000	958.781400	431,451.63
TFO Shari'ah Co-Investment Fund SPC - Class AB	USD	450.0000	701.058100	315,476.15
TFO Shari'ah Co-Investment fund SPC - Class Y	USD	450.0000	542.227700	244,002.47
TFO Shari'ah Co-Investments Fund SPC - Class X	USD	450.0000	626.941900	282,123.86

  Financial Timetable for 2008 and 2009 announcements

Date	Event	Due to be announced by *	For 2008	For 2009
31 January	NAV	20 business days	N/a	27 February
28 February	NAV	20 business days	N/a	27 March
31 March	NAV	20 business days	N/a	29 April
31 March	Quarterly Financial information	30 days	N/a	30 April
30 April	NAV	20 business days	N/a	28 May
31 May	NAV	20 business days	N/a	26 June
30 June	NAV	20 business days	N/a	28 July
30 June	Half Year results	3 months **	N/a	30 September
31 July	NAV	20 business days	19 August ****	28 August
31 August	NAV	20 business days	11 September ****	28 September
30 September	NAV	20 business days	13 October ****	28 October
30 September	Quarterly Financial information	30 days	5 November ****	30 October
31 October	NAV	20 business days	28 November	27 November
30 November	NAV	20 business days	24 December	24 December
31 December	NAV	20 business days	28 January 2009	28 January 2010
31 December	Full Year results	6 Months ***	30 April 2009	30 April 2010

* As stated in admission document

** Although this is a fiscal quarter, limited quarterly financial information will not be disclosed as fuller half-year information will be produced

*** Although this is a fiscal quarter, limited quarterly financial information will not be disclosed as audited full-year information will be produced

**** Already announced

 

END

 

 

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