Last checked at 23 Jul 2010 07:00
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 June 2010 - including income was US $0.8623*.
The Net Asset Value position* as at 31 May 2010 and 30 June 2010 and the portfolio allocation as at 30 June 2010 is summarised below. Furthermore, the Investment Manager will shortly publish its market and Islamic finance market review which will be found on the Company's website at www.familyshariahfund.com/news.
Period 31 May 2010 (opening) - 30 June 2010 (closing) All figures in US$
| US$ | Opening | Closing |
| Net Asset Value * | 27,264,445 | 27,206,517 |
| NAV* per Ordinary Share | 0.8642 | 0.8623 |
The investment manager did not deploy capital to higher risk assets during June in light of further weakness in the market. This has benefited the Fund as the NAV has remained relatively stable despite the fall in global markets. The investment manager will remain cautious over the short-term and will potentially deploy capital in private equity and real estate opportunities where valuations and yields are more attractive than they are in public markets.
Asset Allocation:
- 24.7 % in Cash and Cash like Instruments
- 26.7% in Equities
- 21.0% in Islamic income
- 15.2 % in Private Equity
- 12.4% 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.
For further information, please contact:
| The Family Office | Tel: +973 (17) 221177 |
| Manoj Ranawat |
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| Religare Capital Markets (Nomad and Broker) | Tel: +44 (0) 207 444 0800 |
| James Pinner / Derek Crowhurst / Nick Harriss |
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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.