Amana Stays Ahead of Faith-Based Funds
December 28, 2008 by TMO
Courtesy Deborah Brewster in New York, Financial Times
In a dire year for mutual funds, the Amana Trust Income Fund, the main Muslim investment fund, has trumped those from all other faiths in the US by losing only 25.8 per cent of its value for the year – half the average 44 per cent loss for US stock funds.
The two Amana funds, which invest according to Islamic principles, are seeing such strong inflows that they are having difficulty finding enough stocks to buy.