Last checked at 14 Dec 2009 11:00
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 November 2009 - including income was US $0.8867*.
The Net Asset Value position* as at 31 October 2009 and 30 November 2009 and the portfolio allocation as at 30 November 2009 is summarised below. Furthermore, the Investment Manager will shortly publish its market and Islamic finance market review which will be found on the Company's website at www.familyshariahfund.com/news.
Period 31 October 2009 (opening) - 30 November 2009 (closing) All figures in US$
| US$ | Opening | Closing |
| Net Asset Value * | 27,844,843 | 27,976,263 |
| NAV* per Ordinary Share | 0.8826 | 0.8867 |
The Investment Manager has modified the asset allocation during the period, increasing the exposure to Islamic income, equities and Private Equity. Within Islamic income, the Investment Manager has increased the allocation to Sukuks, with the addition of one security. The Investment Manager operated a rebalancing of the equities holdings, in order to decrease the allocation to emerging market while increasing the overall exposure to this asset class.
Three Private Equity transactions were closed during the period, in the healthcare, the education and the medical technology sectors.
The above transactions resulted in the following rounded asset allocation as at 30 November 2009:
43 % in cash and cash like instruments
21.7 % in Equities
24 % in Islamic income
11.3 % in Private Equity*
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 |
| Richard Joye, Head of Client Service | |
| Blomfield Corporate Finance | Tel: +44 (0)20 7489 4500 |
| James Pinner / 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.