Thursday, December 27, 2007

It pays to be good

Muslim Funds Are Rewarded for Their Faith
By Lawrence Carrel Senior Writer
12/24/2007 6:13 AM EST

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.

Investing the Muslim way

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