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22 Mar 2011 12:00
The Family Shari'ah Fund Limited
('FSF' or the 'Company')
BAHRAIN UPDATE
The Directors today posted the following letter to Shareholders, a copy of which will be available on the Company's website (www.familyshariahfund.com).
"Dear shareholders,
As you know, Bahrain has been witnessing difficult times lately with the political situation. We wanted to reach out to you to provide you with an update on the operations of the investment manager as they relate to The Family Shari'ah Fund Ltd.
The investment manager has a full backup of data that is kept in safe locations inside and outside of Bahrain and it is in the stages of setting up a live data center outside of Bahrain. This will ensure that the investment manager has up-to-the-minute backup of systems, ensuring that business will continue as usual regardless of disruptions.
From Monday, March 14th to Friday March 18th, the investment manager was physically unable to access the Bahrain office. However, given its information technology systems, the portfolio management team and its support team continued to operate remotely without any disruption to our business. On Sunday March 20th, the investment manager officially reopened its offices following directions by the Central Bank of Bahrain and business is back to usual.
The Family Shari'ah Fund portfolio does not have any major investments in the local region and most its investments are diversified globally. In addition, given the recent volatility seen in the global markets from the Japan crisis to political risk in Libya and Middle East, the investment manager has continued to monitor its investments carefully and has even taken advantage of investment opportunities that arose in this volatile time."
For further information, please contact:
The Family Office | Tel: +973 (17) 221177 |
Manoj Ranawat | |
Religare Capital Markets | Tel: +44 (0) 207 444 0500 |
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.
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