Last checked at 23 Apr 2009 11:37
| FOR IMMEDIATE RELEASE | 23 April 2009 |
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 third quarterly results for the period to 31 March 2009 following the commencement of trading of its shares on AIM on 25 July last year.
The Company would also like to clarify the timing of future announcements in 2009 as previously stated in the Company's Admission Document. These quarterly results, the financial timetable and the latest monthly investment manager's report are also available on the Company's website (www.familyshariahfund.com).
For further information, please contact:
| The Family Office (Investment Manager) | Tel: +973 (17) 221177 |
| Andrew Paine - CFO | |
| Richard Joye - Projects Manager | |
| Blomfield Corporate Finance (Nominated Adviser) | Tel: +44 (0)20 7489 4500 |
| James Pinner / John Simpson / Alan MacKenzie | |
| Buchanan Communications (Public Relations) | Tel: +44 (0)20 7466 5000 |
| Bobby Morse / James Strong |
| BALANCE SHEET AS AT MARCH 31, 2009 | |||||||
| ASSETS | USD | ||||||
| Bank accounts | 16,903,508.79 | ||||||
| Cost of investment mutual funds | 9,297,963.63 | ||||||
| App/depr settled mutual funds | (1,602,728.13) | ||||||
| Murabaha Receivable | 3,091,249.99 | ||||||
| Deferred Incorporation Costs | 766,355.16 | ||||||
| Prepaid Marketing Fees | 9,567.10 | ||||||
| Prepaid Insurance Prepaid License Fee | 63,402.10 1,594.24 | ||||||
| Prepaid Listing Fee | 2,182.86 | ||||||
| Prepaid Blomfield Fees | 3,940.27 | ||||||
| ASSETS TOTAL | 28,537,036.01 | ||||||
| LIABILITIES | |||||||
| Management fee payable | 102,299.67 | ||||||
| Administration fees payable | 4,400.00 | ||||||
| Audit fee payable | 62,016.79 | ||||||
| Shari'ah Supervisory Board Salaries & Fees Payable | 136,494.73 | ||||||
| Directors fee payable | 20,000.00 | ||||||
| Legal fees payable | 48,737.35 | ||||||
| Other expenses Payable | 9,799.32 | ||||||
| Due to the Placing Agent | 867,262.49 | ||||||
| Unearned Murabaha Income | 30,000.18 | ||||||
| LIABILITIES TOTAL | 1,281,010.53 | ||||||
| NET ASSET VALUE | 27,256,025.48 | ||||||
| SHAREHOLDER CAPITAL | |||||||
| The Family Shari'ah Fund Class A USD Series 1 | 27,256,025.48 | ||||||
| SHAREHOLDER CAPITAL TOTAL | 27,256,025.48 | ||||||
| PROFIT & LOSS STATEMENT FOR THE PERIOD JANUARY 1, 2009 TO MARCH 31, 2009 | ||||||
| YTD USD | ||||||
| Realised gain/loss | Realised gain/loss mutual funds | (499,275.37) | ||||
| Unrealised gain/loss | Unrealised p/l settled mutual funds | (117,314.67) | ||||
| Other income | Profit on Murabaha Trade | 22,503.42 | ||||
| Dividend income | Dividends income | 3,968.60 | ||||
| Other expenses | Organisation expense | (84,112.14) | ||||
| Other expenses | Insurance expense | (54,344.70) | ||||
| Other expenses | Shari'ah Supervisory Board Salaries & Fees | (44,810.67) | ||||
| Other expenses | Directors fee expense | (20,000.00) | ||||
| Other expenses | Commission | (7,317.23) | ||||
| Other expenses | Administration fee expense | (13,200.00) | ||||
| Other expenses | Audit fee expense | (12,205.48) | ||||
| Other expenses | Professional Fees | (22,865.95) | ||||
| Other expenses | Other Expenses | (61,106.81) | ||||
| Investment management fee expense | Management fee | (102,300.28) | ||||
| TOTAL | (1,012,381.29) | |||||
| Positions as of March 31, 2009 | ||||
| Security | CCY | Quantity | Market Price | Market Value |
| Alahli Diversified US Dollar Trade Fund | USD | 2,526,875.9367 | 1.202300 | 3,038,062.94 |
| AlAhli Emerging Markets Equity Fund | USD | 691,045.3180 | 0.668100 | 461,687.38 |
| Allianz RCM Islamic Global Equity Opportunities Fund | USD | 1,470.090999 | 655.550000 | 963,718.15 |
| iShares MSCI Emerging Market Islamic | USD | 57,488.0000 | 11.670000 | 670,884.96 |
| iShares MSCI World Islamic | USD | 86,200.0000 | 14.940000 | 1,287,828.00 |
| TFO Shari'ah Co-Investment Fund SPC - Class AA | USD | 450.0000 | 958.781400 | 431,451.63 |
| TFO Shari'ah Co-Investment Fund SPC - Class AB | USD | 450.0000 | 701.058100 | 315,476.15 |
| TFO Shari'ah Co-Investment fund SPC - Class Y | USD | 450.0000 | 542.227700 | 244,002.47 |
| TFO Shari'ah Co-Investments Fund SPC - Class X | USD | 450.0000 | 626.941900 | 282,123.86 |
Financial Timetable for 2008 and 2009 announcements
| Date | Event | Due to be announced by * | For 2008 | For 2009 |
| 31 January | NAV | 20 business days | N/a | 27 February |
| 28 February | NAV | 20 business days | N/a | 27 March |
| 31 March | NAV | 20 business days | N/a | 29 April |
| 31 March | Quarterly Financial information | 30 days | N/a | 30 April |
| 30 April | NAV | 20 business days | N/a | 28 May |
| 31 May | NAV | 20 business days | N/a | 26 June |
| 30 June | NAV | 20 business days | N/a | 28 July |
| 30 June | Half Year results | 3 months ** | N/a | 30 September |
| 31 July | NAV | 20 business days | 19 August **** | 28 August |
| 31 August | NAV | 20 business days | 11 September **** | 28 September |
| 30 September | NAV | 20 business days | 13 October **** | 28 October |
| 30 September | Quarterly Financial information | 30 days | 5 November **** | 30 October |
| 31 October | NAV | 20 business days | 28 November | 27 November |
| 30 November | NAV | 20 business days | 24 December | 24 December |
| 31 December | NAV | 20 business days | 28 January 2009 | 28 January 2010 |
| 31 December | Full Year results | 6 Months *** | 30 April 2009 | 30 April 2010 |
* 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
**** Already announced