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: [phone]
Richard Joye, Projects Manager
Blomfield Corporate Finance	Tel: [phone]
James Pinner / John Simpson / Alan MacKenzie
Buchanan Communications	Tel: [phone]
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.

 

END

 

 

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