BELLINGHAM, Wash. and KUALA LUMPUR, Malaysia, April 17, 2011 (GLOBE NEWSWIRE) -- Saturna Capital Corporation, a U.S. investment management company and a parent company to Kuala Lumpur-based Saturna Sdn. Bhd., has received two "Best Global Equity Fund" awards for the performance of the Amana Income and Amana Growth Funds, the world's largest sharia compliant equity funds open to the public. The official announcement came during the Sixth Annual 2010 Failaka Islamic Fund Awards Ceremony held on April 17, 2011, at the Intercontinental Hotel in Abu Dhabi, UAE.
Amana Growth Fund won Best Global Equity Fund in the one-year category by achieving the best performance among thirty sharia compliant equity funds for the one-year period ending December 31, 2010. Amana Income Fund won Best Global Equity Fund for its performance among six sharia compliant funds for the five-year period ending December 31, 2010.
Saturna Capital, adviser to the sharia compliant Amana Mutual Funds Trust since 1989, has accumulated ten Islamic Fund Awards in various categories and has earned at least one Failaka Award each year since Failaka Advisors inaugurated the annual event in 2005.
"The Failaka Awards are unique to the Islamic fund industry. They help us gauge our performance against a global set of peers which adhere to Islamic principles of finance, in addition to the evaluation we receive against U.S. funds by Morningstar and Lipper rating agencies," explains Nicholas Kaiser, portfolio manager of the Amana Funds, and chairman and founder of Saturna Capital. "As the market for Islamic investment instruments continues to grow rapidly, particularly in Europe, Asia and the Middle East, the Failaka Awards helps us to differentiate our firm by demonstrating our long track record of success in sharia compliant asset management."
Failaka Advisors, established in 1996, is a globally recognized research and consulting firm serving the sharia compliant fund industry. Awards are granted to the topmost performers in each category. To be eligible, funds must have at least the equivalent of US$10 million and must have been active for the full tenure of the award category.
Last year, Saturna accepted the Failaka Islamic Fund Award for Best Global Equity Fund in the three-year category for Amana Income Fund. In 2008, the Amana Income Fund swept the Best U.S. Islamic Fund category with performance awards in one-, three- and five-year categories. Saturna Capital has received three Failaka awards as manager of the Amana Funds: in 2006 and 2007 for Best Islamic Fund Manager – U.S, and in 2005 for Best Islamic Fund Manager – Worldwide.
The U.S.-registered Amana Mutual Funds, consisting of the Amana Income (Nasdaq:AMANX), Amana Growth (Nasdaq:AMAGX) and Amana Developing World Funds (Nasdaq:AMDWX), are designed for Muslim Americans who wish to invest according to Islamic principles. As a result of the funds' award-winning long-term performance and top-ratings from U.S. fund rating agencies Morningstar and Lipper, the Amana Funds found appeal outside of the Muslim community and has a broad investor base in United States.
For more information about Saturna Capital Corporation or the Amana Funds, visit www.saturna.com or www.amanafunds.com.
For more information about the 2011 Failaka Awards, visit www.failaka.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 $3.8 billion in assets, including nine mutual funds, private accounts for families, businesses, and endowments.
Saturna Capital is adviser to the sharia compliant Amana Mutual Funds Trust, which includes Amana Growth Fund, Amana Income Fund – two largest Islamic equity funds in the world that are open to the public -- and Amana Developing World Fund.
Saturna Capital is also adviser to the Saturna Investment Trust, consisting of six funds: Sextant Growth (U.S. domestic equities), Sextant International (international equities), Sextant Core (bonds and equities), Sextant Bond Income (long-term bonds), Sextant Short-Term Bond, and the Idaho Tax-Exempt Fund (Idaho municipal bonds).
Saturna Capital has three wholly-owned subsidiaries: Saturna Sdn. Bhd., located in Kuala Lumpur, Malaysia, specializing in sharia compliant investment advisory services for individuals and institutions; 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, specializing in the administration of Islamic trust services.
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