Saturna’s Amana Funds Double in Size, Continue To Post Top Returns
Bellingham, WA (November 1, 2006) — The Bellingham-based Saturna Capital Corporation, investment manager to the Amana Growth Fund (AMAGX) and the Amana Income Fund (AMANX), mutual funds designed for Islamic and socially responsible investors, doubled their assets under management since December 2005, as the funds’ popularity continues to grow. The funds continue to post top returns and as of October 31, 2006, the funds ranked in the top one percentile of their peer groups, according to Morningstar, the fund rating agency.
With $285 million in assets, the Amana Growth Fund, is rated five stars by Morningstar for its performance in the three, five and ten-year periods in the Large Growth category. It returned 20.8 percent annually for the last three years and 13.7 percent this year through October 31, 2006. The Amana Income Fund, with $102 million in assets, received a five-star rating for its performance in the three-year and five year periods in the Large Value category, and a four-star rating for the ten year period. It returned 21.2 percent annually for the last three years and 18.1 percent this year.
Saturna, a leading expert in designing investment strategies for Muslim Americans, is committed to educating the public on issues of Islamic finance. Locally, Saturna is co-sponsoring a symposium at Western Washington University’s Center for International Business in Bellingham on Nov. 9, 2006, entitled "Current Issues in Islamic Finance and Economics." For further info, call 1-800-728-8762.
Saturna Corporation, established in 1989 in Bellingham, WA, is the investment adviser and administrator of the Amana Mutual Funds Trust, which includes the Amana Growth and Amana Income funds, and the Saturna Investment Trust. Saturna Investment Trust consists of five funds: Sextant Growth (domestic equities), Sextant International (ADRs and foreign stocks), Sextant Bond Income (long-term bonds), Sextant Short-Term Bond and the Idaho Tax-Exempt Fund. Saturna Capital also manages private accounts for families, businesses and endowments. Saturna Brokerage Services provides general discount brokerage services and underwrites the Saturna mutual funds.