By Lawrence Carrel
TheStreet.com Senior Writer
12/24/2007 6:13 AM EST
http://www.thestreet.com/s
While the S&P 500 remained up 4.9% for the year through Friday, a number of funds that invest according to the Koran have significantly outperformed the benchmark. The Amana Trust Income Fund (AMANX) return of 13.3% through Dec. 21, beating the S&P 500 by 8.4 percentage points, while its sibling, the Amana Trust Growth Fund (AMAGX), gained 11.7%.The Amana funds, managed by Saturna Capital of Bellingham, Wash., are also ahead of the S&P 500's annualized return for the past three and five years, earning them five-star ratings from Morningstar.
The Amana Trust Income Fund, with $339 million in assets, posted the fourth highest return this year of large-cap value funds tracked by Morningstar, helped by its large holdings of technology, healthcare, and commodity stocks.
http://www.mercurynews.com/markets/ci_7792520?nclick_check=1
But since 1984 Nicholas Kaiser, founder and president of Saturna Capital in Bellingham, Wash., has managed two highly rated socially responsible mutual funds guided by Islamic tenets: Amana Growth and Amana Income.
Personal finance reporter Mark Schwanhausser talked about the delicate balance of principles and profit when Kaiser visited Palo Alto to speak to investors this month.
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