Last checked at 25 Oct 2010 07:00
| FOR IMMEDIATE RELEASE | October, 25 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 quarterly results for Q3 2010*.
The Company would also like 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 subject to six 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 (Investment Manager) | Tel: +973 17221177 |
| Manoj Ranawat |
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| Religare Capital Markets (Nominated Adviser and Broker) | Tel: +44 (0) 207 444 0800 |
| James Pinner / Derek Crowhurst |
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| BALANCE SHEET AS AT SEPTEMBER 30, 2010* | |||||||
| ASSETS |
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| USD |
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| Bank accounts |
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| 6,433,337 |
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| Cost of investment mutual funds |
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| 15,626,555 |
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| Cost of Sukuk Investment |
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| 5,675,854 |
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| App/depr Investment |
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| 498,051 |
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| SUKUK Receivable |
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| 36,152 |
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| Prepaid expenses and deferred costs |
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| 351,978 |
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| ASSETS TOTAL |
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| 28,621,927 |
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| LIABILITIES |
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| Management fee payable |
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| 104,984 |
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| Expense payables |
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| 30,001 |
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| Directors fee payable |
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| 30,787 |
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| Due to the Investment Manager |
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| 345,814 |
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| LIABILITIES TOTAL |
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| 511,586 |
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| NET ASSET VALUE |
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| 28,110,341 |
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| SHAREHOLDER CAPITAL |
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| The Family Shari'ah Fund Class A USD Series 1 |
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| 28,110,341 |
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| SHAREHOLDER CAPITAL TOTAL |
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| 28,110,341 |
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*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to six monthly 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, 2010 TO SEPTEMBER 30, 2010* | ||||||
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| USD | |
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| Realised gain/loss |
| Realised gain/loss |
| - | ||
| Unrealised gain/loss |
| Unrealised p/l settled |
| 1,115,651 | ||
| Other income |
| Sukuk Income |
| 53,337 | ||
| Other income |
| Yield Income |
| 52,466 | ||
| Dividend income |
| Dividends income |
| - | ||
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| Other expenses |
| Investment expenses |
| - | ||
| Other expenses |
| Administrative expenses |
| (212,644) | ||
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| Investment management fee expense |
| Management fee |
| (104,984) | ||
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| TOTAL |
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| 903,826 | |
*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to six monthly evaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.
| Asset Allocation as of September 30, 2010* |
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| Assets Class | % | No. of investments | Market Value |
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| Cash and Cash like Instruments | 23.1% | 1 | 6,433,337 |
| Equities | 29.7% | 4 | 8,288,794 |
| Islamic income | 21.1% | 3 | 5,898,299 |
| Private Equity | 14.9% | 14 | 4,160,553 |
| Real Estate | 11.2% | 2 | 3,133,890 |
| Top 5 Positions by Market value as of September 30, 2010* |
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| Security | CCY | Quantity | Market Price | Market Value |
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| Allianz RCM Islamic Global Equity Opportunities Fund | USD | 3,086.7620 | 855.38 | 2,640,354 |
| BNP Paribas Islamic Fund - Equity Optimiser | USD | 20 | 126,011 | 2,520,222 |
| Petronas Sukuk - 4.25% 08/12/14 | USD | 2,000,000 | 1.0555 | 2,111,009 |
| IDB Trust Services Ltd - 3.172% 09/16/14 | USD | 2,000,000 | 1.0381 | 2,076,278 |
| GE Capital Ltd Sukuk - 3.78% 26/11/2014 | USD | 1,675,000 | 1.0215 | 1,711,013 |
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*All figures are unaudited. Also, as stated in the Admission Document, all private equity investments are subject to six monthly revaluations and therefore the net asset value as stated herein may differ from the actual position as at the dates reported.
Financial Timetable for 2010 and 2011 announcements
| Date | Event | Due to be announced by * | For 2010 | For 2011 |
| 31 January | NAV | 20 business days | Announced | 28-Feb-2011 |
| 28 February | NAV | 20 business days | Announced | 28-Mar-2011 |
| 31 March | NAV | 20 business days | Announced | 01-May-2011 |
| 31 March | Quarterly Financial information | 30 days | Announced | 29-Apr-2011 |
| 30 April | NAV | 20 business days | Announced | 31-May-2011 |
| 31 May | NAV | 20 business days | Announced | 28-June-2011 |
| 30 June | NAV | 20 business days | Announced | 28-July-2011 |
| 30 June | Half Year results ** | 3 months | Announced | 30-Sep-2011 |
| 31 July | NAV | 20 business days | Announced | 26-Aug-2011 |
| 31 August | NAV | 20 business days | Announced | 28-Sep-2011 |
| 30 September | NAV | 20 business days | Announced | 28-Oct-2011 |
| 30 September | Quarterly Financial information | 30 days | Announced | 28-Oct-2011 |
| 31 October | NAV | 20 business days | 26-Nov-2010 | 28-Nov-2011 |
| 30 November | NAV | 20 business days | 30-Dec-2010 | 30-Dec-2011 |
| 31 December | NAV | 20 business days | 31-Jan-2011 | 28-Jan-2012 |
| 31 December | Full Year results *** | 6 Months | 29-Apr-2011 | 29-Apr-2012 |
* 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.