Solid results in a volatile market.
Rigorous screens. An experienced portfolio manager. A disciplined approach.
The Amana Funds favor companies with low price-to-earnings multiples, strong balance sheets, and proven businesses. They follow a value-oriented approach consistent with Islamic finance principles. Generally, these principles require that investors avoid interest and investments in businesses such as liquor, pornography, gambling, and banks. The Funds avoid bonds and other conventional fixed-income securities while seeking protection against inflation by making long-term equity investments.
Here are some results of these strategies:
Overall Morningstar Ratings™
Amana Income Fund
|Amana Income Fund seeks current income by investing
primarily in dividend-paying stocks. The Fund seeks capital
preservation as a secondary objective.
|among 1355 Large Blend Funds|
Amana Growth Fund
|Amana Growth Fund seeks long-term capital appreciation by
investing in companies expected to grow earnings and stock
prices faster than the economy.
|among 1486 Large Growth Funds|
Amana Developing World Fund
|Amana Developing World Fund seeks long-term capital growth by
investing in stocks of companies with significant exposure (50% or more of assets or revenues) to countries with developing economies and/or markets.
|among 399 Diversified Emerging Markets Funds|
Average Annual Total Returns
|Quarter-end as of 12/31/2013|
|Before tax||Ticker||10 Year||5 Year||3 Year||1 Year||Expense Ratio¹||30-Day Yield²|
|Amana Income Investor||AMANX||11.16%||14.98%||13.18%||29.72%||1.19%||1.36%|
|S&P 500 Index||7.40%||17.93%||16.16%||32.39%||n/a||n/a|
|Russell 1000 Value Index||7.56%||16.65%||16.05%||32.56%||n/a||n/a|
|Amana Growth Investor||AMAGX||10.74%||15.52%||10.27%||22.83%||1.11%||0.42%|
|S&P 500 Index||7.40%||17.93%||16.16%||32.39%||n/a||n/a|
|Russell 1000 Growth Index||7.82%||20.37%||16.44%||33.49%||n/a||n/a|
|Amana Developing World Investor||AMDWX||n/a||n/a||-0.84%||-0.65%||1.54%||0.65%|
|MSCI Emerging Markets Index||11.16%||14.78%||-2.06%||-2.60%||n/a||n/a|
¹ Expense ratios shown are as of the Funds' most recent prospectus dated September 25, 2013.
² A Fund's 30-Day Yield is calculated by dividing the net investment income per share during the preceding 30 days by the net asset value per share on the last day of the period. The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate.
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment fluctuate daily and an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be significantly higher or lower than data quoted herein.
A Fund’s performance depends primarily on what happens in the stock market. The market’s behavior is often volatile, particularly in the short-term and in periods of unusual market occurrences. Because of this, the value of your investment will rise and fall, and you could lose money. For performance current to the most recent month-end, please ask your representative, visit the Average Annual Returns Page or call us toll-free at 888/73-AMANA (888-732-6262).
Growth of $10,000
This chart illustrates the performance of a hypothetical $10,000 invested at the beginning of the period and redeemed at the end of the period, and assumes reinvestment of all dividends and capital gains. Comparison of any mutual fund to a market index must be made bearing in mind that the index is unmanaged, and expense-free. Conversely, the fund will (1) be actively managed, (2) have an objective other than mirroring the index, such as limiting risk, (3) bear various operational costs, (4) stand ready to buy and sell its securities to shareowners on a daily basis, and (5) provide a wide range of services.
Lipper Awards & Rankings
Awards for the Amana Income Fund Investor Shares (AMANX):
Awards for the Amana Growth Fund Investor Shares (AMAGX):
|Lipper™ Quintile Rankings Based on Total Return as of December 31, 2013|
|10 Year||5 Year||3 Year||1 Year|
|(Absolute Rank / Number of Funds in Category)|
|Amana Income Fund Investor Shares (AMANX) / Equity Income Funds|
|Amana Growth Fund Investor Shares (AMAGX) / Multi-Cap Growth Funds|
|Amana Developing World Fund Investor Shares (AMDWX) / Emerging Markets Funds|
Amana Funds Institutional Shares began operations September 25, 2013; consequently, they have no historical returns to report and are not yet rated by Lipper.
A Few Words About Risk:
Investing in securities entails both market risks and risk of price variation in individual securities. Common stock investments involve greater risk, and commensurately greater opportunity for reward, than other investments such as short-term bonds and money market instruments.
Islamic finance principles restrict the Funds’ ability to invest in certain stocks and market sectors, such as financial companies and conventional fixed-income securities. This may limit opportunities and possibly increase the risk of loss during market declines.
By diversifying its investments, each Fund reduces the risk of owning only a few securities. The Growth Fund typically invests in smaller and less seasoned companies than the Income Fund, which may lead to greater variability in Growth Fund’s returns. Growth stocks, which can be priced on future expectations rather than current results, may decline substantially when expectations are not met or general market conditions weaken. The Growth Fund is suitable for investors seeking higher returns and willing to accept greater fluctuations in value (risk) than Income Fund investors.
Investing in foreign securities involves risks not typically associated directly with investing in US securities. These risks include fluctuations in exchange rates of foreign currencies; less public information with respect to issuers of securities; less governmental supervision of exchanges, issuers, and brokers; and lack of uniform accounting, auditing, and financial reporting standards. There is also a risk of adverse political, social or diplomatic developments that affect investment in foreign countries.
During uncertain market or economic conditions, a Fund may adopt a temporary defensive position. The Funds cannot invest in interest-paying instruments frequently used by other mutual funds for this purpose. When markets are unattractive, the Adviser chooses between continuing to follow the Funds’ investment policy or converting securities to cash for temporary, defensive purposes. This choice is based on the Adviser’s evaluation of market conditions and the Funds’ portfolio holdings. While cash assets do not contribute to the Income Fund’s primary objective of current income (or the Growth and Developing World Funds' objective of long-term capital growth), they do assist its secondary objective of preservation of capital.
These criteria limit investment selection and income-earning opportunities more than is customary for other mutual funds. The Adviser, Saturna Capital Corporation, selects investments. To ensure that investments meet the requirements of the Islamic faith, the Adviser follows guidelines established by the Fiqh Council of North America, a non-profit organization serving the Muslim community.
Each Fund may maintain cash deposits in excess of federally insured limits.
Both Funds seek to minimize potential current income taxes paid by shareowners, where the basic strategies to be favored are (1) infrequent trading, (2) offseting capital gains with losses and (3) selling highest-cost tax-lots first.