Amana Mutual Funds Trust - Growth Fund
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- Amana Mutual Funds Trust - Growth Fund (AMAGX) is an open-end mutual fund that seeks long-term capital growth consistent with Islamic principles of investing. The fund, launched on February 3, 1994, and domiciled in the United States, normally invests at least 80% of its total net assets in common stocks, including foreign stocks, selected for their alignment with Shari'ah-compliant criteria that prohibit interest-based debt, excessive uncertainty, and involvement in haram industries such as alcohol, pork, gambling, tobacco, pornography, conventional financial services, and weapons; it diversifies across large-cap growth-oriented companies expected to grow earnings and stock prices faster than the economy, with a focus on those demonstrating sustainable characteristics including environmental, social, and governance (ESG) factors. Key portfolio sectors include technology (approximately 56%), healthcare (14%), industrials (14%), consumer cyclical (7%), and communication services (6%), with top holdings typically comprising leading firms like Apple Inc., Broadcom Inc., NVIDIA Corp., Alphabet Inc., and Taiwan Semiconductor Manufacturing Co. Ltd., representing about 33% of the portfolio; the fund maintains allocations of roughly 77% in U.S. stocks, 22% in non-U.S. stocks, and 1% in cash, targeting investors seeking halal equity exposure primarily in developed markets. Headquartered in Bellingham, Washington, and advised by Saturna Capital Corporation, the Growth Fund operates as part of the Amana Mutual Funds Trust, which also includes the Amana Income Fund (launched 1986) and Amana Developing World Fund (launched 2009), with quarterly compliance reviews by Amanie Advisors, a board of Islamic scholars. The fund serves individual and institutional investors in the United States through investor and institutional share classes, with a net expense ratio of 0.86%, a minimum initial investment of $100, and no front-end or deferred loads. Recent changes include the appointment of Dan Kim, CFA, as deputy portfolio manager effective October 21, 2025, alongside existing managers Scott Klimo (since 2012) and Monem Salam (since 2018, with prior tenure); this enhances the management team amid sustained assets under management exceeding $2.7 billion for the investor class. In June 2025, the Trust added new trustees Asma Y. Mirza (independent) and Jane K. Carten (interested), marking a board refresh following the departure of long-serving founding members. These developments reflect ongoing enhancements to governance and portfolio oversight without reported acquisitions, funding rounds, or major strategic shifts in the past 1-2 years.