Net Asset Value(s)

RNS Number : 8670R

The Family Shariah Fund Ltd

10 November 2011

 



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 Oct 2011 - including income was US $0.9220*.

The Net Asset Value position* as at 30 Sep 2011 and 31 Oct 2011 and the portfolio allocation as at 31 Oct 2011 is summarised below.

Period 30 Sep 2011 (opening) - 31 Oct 2011 (closing)

All figures in US$

US$	Opening	Closing
Net Asset Value *	28,299,083	29,089,924
NAV* per Ordinary Share	0.8970	0.9220

October saw a sharp rally in the markets. The Investment Manger believes this rally was based on investor sentiment and oversold technical levels rather than pure economic fundamentals. In fact, investors started pricing in a resolution in the European sovereign debt crisis which drove Islamic equity markets up 11.50% for the month of October. As mentioned in the September NAV announcement, FSF added to the equity market at the end of September, which benefited the performance of the portfolio in October. FSF finished the month of October up almost 2.8%, with the majority of the gains driven by the increase in equity allocation. The portfolio manager remains nimble and flexible and is closely watching the developments out of Europe which are affecting the current market.

Asset Allocation as at 31 Oct 2011:

-     17.9% in Cash and Cash Like Instruments

-     7.8% in Islamic Income

-     29.3% in Equities

-     3.5% in Alternatives

-     18.5% in Private Equity

-     23.0% in Real Estate

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]
James Pinner / Derek Crowhurst  (Nomad) Daniel Briggs (Broker)

 

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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