3rd Quarter Results

RNS Number : 9416F

The Family Shariah Fund Ltd

21 January 2010

 



FOR IMMEDIATE RELEASE

21 Jan 2010

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 unaudited third quarterly results for the period to 30 September 2009*. 

The Board notes that these quarterly results were due to be announced by 30 October2009 however such announcement was delayed. The Board confirms that the results were prepared and available to them on time and that this delay in announcement had no impact on the availability of quarterly information to the Board on a timely basis for this or any subsequent period. The Board wishes to apologise for any inconvenience caused to investors.

The Directors would also like to take this opportunity to clarify the timing of future announcements in 2010 and 2011 as previously stated in the Company's Admission Document.  These quarterly results, the financial timetable and a monthly investment manager's report are also available on the Company's website (www.familyshariahfund.com).

Note

*All figures are unaudited. Also, as stated in the admission document, all private equity investments are only subject to 6 monthly 3rd party 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 (Investment Manager)	Tel: [phone]
Andrew Paine - CFO
Richard Joye - Projects Manager
Blomfield Corporate Finance  (Nominated Adviser and Broker)	Tel: [phone]
James Pinner / Derek Crowhurst / Alan MacKenzie

BALANCE SHEET AS AT SEPTEMBER 30, 2009*
ASSETS					USD
Bank accounts					14,862,642
Cost of investment mutual funds					8,737,884
Cost of SUKUK Investment					5,013,800
App/depr settled					(556,547)
SUKUK Receivable					31,674
Deferred Incorporation Costs					595,327
Prepaid Insurance					117,702
Prepaid Licence Fee					533
Prepaid Listing Fee					3,484
Prepayments - other					4,722
ASSETS TOTAL					28,811,221
LIABILITIES
Management fee payable					105,097
Administration Disbursements payable					400
Administration fees payable					4000
Audit fee payable					26,121
Correct Net fee payable					250
Directors fee payable					156,131
Register fee payable					3,787
Secretarial fees payable					493
Due to the Placing Agent					686,796
LIABILITIES TOTAL					983,075
	NET ASSET VALUE				27,828,146
SHAREHOLDER CAPITAL
The Family Shari'ah Fund Class A USD Series 1					27,828,146
SHAREHOLDER CAPITAL TOTAL					27,828,146
	*All figures are unaudited. Also, as stated in the admission document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.

PROFIT & LOSS STATEMENT FOR THE PERIOD JULY 1, 2009 TO SEPTEMBER 30, 2009*
					USD
Realised gain/loss			Realised gain/loss mutual funds		172,701
Unrealised gain/loss			Unrealised p/l settled		339,395
Other income			Profit on SUKUK Trade		20,018
Other income			Profit on Murabaha Trade		9,607
Dividend income			Dividends income		17,007
Other expenses			Organisation expense		(85,981)
			Insurance expense		(32,071)
			Shari'ah Supervisory Board Salaries & Fees		(15,415)
			Directors fee expense		(20,000)
			Commission		(17,336)
			Administration fee expense		(13,950)
			Audit fee expense		(12,477)
			Professional Fees		(27,811)
			Other Expenses		(42,387)
Investment management fee expense			Management fee		(105,098)
Net profit					186,202

*All figures are unaudited. Also, as stated in the admission document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.  

Positions as of  September 30, 2009*
Security	CCY	Quantity	Market Price*	Market Value*
Ishares II PLC - Ishares MSCI World Islamic	USD	86,200	19.52	1,682,624
Ishares II PLC - Ishares MSCI Emerging Markets Islamic	USD	94,488	17.85	1,686,611
Allianz RCM Islamic Global Equity Opportunities Fund	USD	2,730.3620	817.38	2,231,743
CBB International Sukuk - 6.247 % 06/17/2014	USD	1,000,000	1.0834	1,083,440
IDB Trust Services Ltd - 3.172% 09/16/14	USD	2,000,000	0.9953	1,990,626
Petronas Sukuk - 4.25% 08/12/14		2,000,000	0.9969	1,993,936
TFO Shari'ah Co-Investment Fund SPC - Class AA	USD	450	981.5155	441,682
TFO Shari'ah Co-Investment Fund SPC - Class AB	USD	450	671.6777	302,255
TFO Shari'ah Co-Investment Fund SPC - Class AC	USD	450	1,000	450,000
TFO Shari'ah Co-Investment Fund SPC - Class AE	USD	229.1520	1,000	229,152
TFO Shari'ah Co-Investment Fund SPC - Class AF	USD	222.9410	1,000	222,941
TFO Shari'ah Co-Investment Fund SPC - Class ADV	USD	447.9070	1,000	447,907
TFO Shari'ah Co-Investment fund SPC - Class X	USD	450	450.8644	202,889
TFO Shari'ah Co-Investments Fund SPC - Class Y	USD	450	509.6244	229,331

*All figures are unaudited. Also, as stated in the admission document, all private equity investments are only subject to 6 monthly 3rd party revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.  Financial Timetable for 2008 and 2009 announcements

Date	Event	Due to be announced by *	For 2010	For 2011
31 January	NAV	20 business days	2/26/2010	2/28/2011
28 February	NAV	20 business days	3/26/2010	3/28/2011
31 March	NAV	20 business days	4/30/2010	5/1/2011
31 March	Quarterly Financial information	30 days	4/30/2010	4/29/2011
30 April	NAV	20 business days	6/1/2010	5/31/2011
31 May	NAV	20 business days	6/28/2010	6/28/2011
30 June	NAV	20 business days	7/28/2010	7/28/2011
30 June	Half Year results **	3 months	9/30/2010	9/30/2011
31 July	NAV	20 business days	8/27/2010	8/26/2011
31 August	NAV	20 business days	9/28/2010	9/28/2011
30 September	NAV	20 business days	10/28/2010	10/28/2011
30 September	Quarterly Financial information	30 days	10/29/2010	10/28/2011
31 October	NAV	20 business days	11/26/2010	11/28/2011
30 November	NAV	20 business days	12/30/2010	12/30/2011
31 December	NAV	20 business days	1/31/2011	1/28/2012
31 December	Full Year results ***	6 Months	4/29/2011	4/29/2012

Notes to the timetable

* 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

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.

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