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20 Apr 2011 12:00
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The Family Shari'ah Fund Limited
('FSF' or the 'Company')
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NET ASSET VALUE
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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 atΒ 31 Mar 2011 -Β including incomeΒ wasΒ US $0.9065*.
The Net Asset Value position* as at 28 Feb 2011 and 31 Mar 2011 and the portfolio allocation as at 31 Mar 2011 is summarised below.
Period 28 Feb 2011 (opening) - 31 Mar 2011 (closing)All figures in US$
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US$ | Opening | Closing |
Net Asset Value * | 28,454,018 | 28,601,553 |
NAV* per Ordinary Share | 0.9019 | 0.9065 |
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The portfolio was up 0.5185% for the month of March. This performance came mainly from the equity allocation and accruals from the Sukuks, Alternative Investments & Real Estate. The investment manager took advantage of the volatility seen in the equity markets in March and initiated a position in a European equity manager. In addition, given the rally in the Sukuk, the investment manager took off one position at aΒ profit as spreads tightened significantly.
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Asset Allocation:
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- 17.8% in Cash and Cash Like Instruments
- 16.9% in Islamic Income
- 31.2% in Equities
- 3.5% in Alternatives
- 16.4% in Private Equity
- 14.2% in Real Estate
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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.
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For further information, please contact:
The Family Office | Tel: +973 (17) 221177 |
Manoj Ranawat | |
Religare Capital Markets (Nomad and Broker) | Tel: +44 (0) 207 444 0800 |
James Pinner / Derek Crowhurst | |
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.
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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.
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The Company's investing policy, as defined by the AIM Rules, is available on the Company's website atΒ www.familyshariahfund.com/investing_policy.html.
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