Amana Income Fund Celebrates 25th Anniversary, Becoming World's Second Largest Islamic Equity Mutual Fund
Nicholas Kaiser has been portfolio manager of Amana Income for 21 years and has twice been nominated as Morningstar's Domestic-Stock Manager of the Year. He founded Saturna Capital Corporation in 1989, and serves as its Chairman. He also serves as Chief Investment Officer, leading a steadily growing investment team, which includes Amana's deputy portfolio manager Monem Salam. The ten-member portfolio management team is based in Saturna's Bellingham, WA headquarters and its branch office in Kuala Lumpur, Malaysia.
Amana Income has maintained Morningstar's highest rating of five stars overall for the last 58 consecutive months, since October 2006. For the 10-year period ending June 30, 2011, it ranks in the top 1% of all 813 funds in Morningstar's Large Blend fund category.
The Amana Income Fund has received three Lipper Best Fund Awards: for the three-year period ended December 31, 2006, among 180 equity income funds; and for the three-year and five-year periods ended December 31, 2007, among 198 and 135 equity income funds, respectively.
The Fund has also received five Failaka Islamic Fund awards in various categories over the past few years: three Best U.S. Islamic Fund awards in 2008 (sweeping the one-, three- and five-year periods); Best Global Equity Fund in 2009 (for the three-year period); and Best Global Equity Fund again in 2010 (for the five-year period).The idea for a mutual fund for Muslim Americans originated in 1984 with two Muslim businessmen interested in serving their community. They approached Kaiser to launch Amana Income Fund, with the objectives of current income and preservation of capital. Amana Mutual Funds Trust, consisting of the Amana Income (AMANX), Amana Growth (AMAGX) and Amana Developing World (AMDWX) Funds, are designed for Americans who wish to invest according to Islamic principles. For more information about Saturna Capital Corporation or the Amana Funds, visit www.saturna.com or www.amanafunds.com. About Saturna Capital Corporation "Values-Based Global Equity Managers" Saturna Capital Corporation, established in 1989 in Bellingham, Washington, USA, is the investment adviser and administrator to $3.5 billion in assets, including nine mutual funds, private accounts for families, businesses, and endowments. Saturna Capital is adviser to the Amana Mutual Funds Trust, which includes Amana Growth Fund, Amana Income Fund, and Amana Developing World Fund. The Amana Funds are managed according to the principles of Islamic finance.
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