Saturna Capital Receives Best Islamic Asset Manager Award
Kuala Lumpur, Malaysia (Feb.15, 2012) —Saturna Capital Corporation, a U.S. investment management company and parent company to Kuala Lumpur-based Saturna Sdn. Bhd., has been named “Best Asset Management Company (Americas)” by Islamic Finance News based on results of its 2011 Islamic Investor Poll. Over 200 of the Islamic investment industry’s leading players, consisting of institutional investors, sovereign wealth funds, high net worth individuals, and insurance companies, cast votes in 11 asset management categories. Saturna Capital received the award during the IFN Awards ceremony held in Kuala Lumpur on February 15.
“We would like to thank our peers in the Islamic finance industry who have honored us with this prestigious recognition,” said Monem Salam, president of Saturna Sdn. Bhd. and deputy portfolio manager of the U.S.-based, Amana Mutual Funds managed according to Islamic guidelines.
“There is growing recognition in the Islamic finance community that U.S. market exposure is essential, especially given the lackluster performance of emerging markets last year, and the lingering uncertainties of European markets,” pointed out Salam. He added that Saturna is one of the few firms with deep expertise and a long track record of success in Islamic compliant U.S. investing, and is focused on increasing delivery of its investment services on a global scale to meet demand.
While Islamic finance is still considered a niche industry, assets under Islamic management are widely estimated to top US$1 trillion worldwide. A 2010 Pew Research Center study entitled The Future of the Global Muslim Population suggests that demand for Islamic asset management will continue to grow in the coming years. The study forecasts a 35% increase in the world’s Muslim population over the next 20 years, which is twice the growth rate of the non-Muslim population. Saturna Sdn. Bhd. received a Capital Markets Services License in 2010 from the Malaysian Securities Commission to conduct Islamic fund management.
Its parent company Saturna Capital, best known as investment adviser to the U.S.-based Amana Mutual Funds Trust, has garnered recognition both within and outside the U.S. as a premier fund manager. The Amana Income and Amana Growth Funds’ excellent long-term track records have helped the Funds find appeal outside of the Muslim community and expand their investor base in United States.
Nicholas Kaiser, founder of Saturna Capital and portfolio manager of the Amana Funds, pioneered Islamic investing in the U.S. mutual fund industry with the launch of the Amana Income Fund 25 years ago. Today, Amana Income and Amana Growth have grown to become the world’s largest Islamic equity funds open to the public. The Amana Funds, including the Amana Developing World Fund launched in 2009, total over $3.5 billion in assets as of January 2012.
Saturna Capital developed its Islamic investment process with guidance from the Fiqh Council of North America to ensure that investments of the Amana Funds meet the requirements of the Islamic faith. Refined over two decades, Saturna’s process includes a proprietary Islamic grading system applied to over 12,000 equities in its research database and integrated into its ongoing management and Islamic compliance monitoring of the Amana portfolios.
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Saturna Capital Corporation, established in 1989 in Bellingham, Washington, USA, is an investment adviser with over US$3.8 billion in assets under management, providing investment advisory services to mutual funds, institutions, businesses, individuals, and endowments.
Saturna Capital is adviser to the Amana Mutual Funds (Amana Growth Fund, Amana Income Fund, and Amana Developing World Fund) that follow the principles of Islamic finance.
Saturna Capital is also adviser to the U.S.-based Saturna Investment Trust, consisting of six mutual funds: Sextant International, Sextant Growth, Sextant Core, Sextant Bond Income, Sextant Short-Term Bond, and the Idaho Tax-Exempt Fund.
Saturna Sdn. Bhd., located in Kuala Lumpur, Malaysia, is a wholly-owned subsidiary of Saturna Capital, specializing in Islamic-compliant investment advisory services for individuals and institutions.
Saturna Capital also has two other wholly-owned subsidiaries: Saturna Brokerage Services, located in Bellingham, Washington, USA, provides general discount brokerage services and distributes Saturna’s affiliated mutual funds; and Saturna Trust Company, headquartered in Reno, Nevada, USA, provides trust services to families, charities, trusts, estates, and retirement plans.
Islamic Finance News is a publication of REDmoney, a publishing and event company focusing on the global Islamic finance industry. REDmoney provides Islamic finance consulting and training services; organizes and hosts Islamic finance events, forums and seminars; and publishes online and print news and educational material aimed at Islamic finance practitioners.
Performance data quoted represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be higher or lower than performance data quoted herein; performance current to the most recent month-end can be obtained by visiting www.saturna.com or by calling toll free (800) SATURNA.