Net Asset Value and change of
The Family Shari'ah Fund Limited
(the 'Family Shari'ah Fund' 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 provided by the Fund Administrator - Apex Fund Services (Ireland) Limited as at 28 February 2010 - including income was US $0.8776*.
The Net Asset Value position* as at 31 January 2010 and 28 February 2010 and the portfolio allocation as at 28 February 2010 is summarised below. Furthermore, the Investment Manager will shortly publish its market and Islamic finance market review which will be found on the Company's website at www.familyshariahfund.com/news.
Period 31 January 2010 (opening) - 28 February 2010 (closing)
All figures in US$
|
US$ |
Opening |
Closing |
|
Net Asset Value * |
27,591,104 |
27,689,116 |
|
NAV* per Ordinary Share |
0.8745 |
0.8776 |
The investment manager believes that dislocation in the financing markets has prevented competitive bidding for many properties in the US, offering a great opportunity for the Family Shari'ah Fund to participate. Therefore, the investment manager allocated 7% of the fund to a set of real estate deals that offered highly attractive current cash yields from rents and where potential capital appreciation is possible in selected markets and assets.
- 32.0 % in cash and cash like instruments
- 21.3 % in Equities
- 25.1% in Islamic income
- 14.4 % in Private Equity*
- 7.2% in Real Estate
Notes:
* 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.
Change of name of Nominated Adviser and Broker
The Family Shari'ah Fund's Nominated Adviser and Broker, Blomfield Corporate Finance Limited, has changed its name to Religare Capital Markets (UK) Limited - trading as Religare Capital Markets.
For further information, please contact:
|
The Family Office |
Tel: +973 (17) 221177 |
|
Richard Joye, Head of Client Service |
|
|
|
|
|
Religare Capital Markets (Nomad and Broker) |
Tel: +44 (0) 207 444 0800 |
|
James Pinner / Derek Crowhurst / Alan MacKenzie |
|
|
|
|
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.
This information is provided by RNS
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