Amana Mutual Funds Trust Income Fund
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- Amana Mutual Funds Trust Income Fund (AMANX) is a mutual fund that seeks current income and preservation of capital by investing primarily in dividend-paying common stocks, including foreign stocks, with all investment decisions made in accordance with Islamic principles of shared profit and loss, exclusion of interest (riba), and avoidance of prohibited businesses such as alcohol, tobacco, pornography, weapons, gambling, pork products, interest-based finance, insurance, and fossil fuel extraction. The fund follows a large-cap value investment style, diversifies across industries and companies, and incorporates sustainability screens focusing on resource efficiency, community relations, board composition, business ethics, low debt, and strong balance sheets; it normally invests at least 80% of total net assets in income-producing securities, generally holding positions for several years to discourage speculation. Investor shares (AMANX) and institutional shares (AMINX) are offered, with total net assets of approximately $1.91 billion as of December 31, 2024; top holdings include Eli Lilly (12.11%), Microsoft (8.83%), and Taiwan Semiconductor ADS (8.53%), with sector allocations led by technology (28.09%), industrials (22.66%), and health care (20.99%). Part of the Amana Mutual Funds Trust, advised by Saturna Capital Corporation and distributed by Saturna Brokerage Services, the Income Fund targets investors seeking Sharia-compliant equity exposure with income generation and targets established, financially strong companies demonstrating Islamic and sustainable characteristics. It operates globally, with investments in U.S. and foreign equities subject to risks like foreign political instability, currency fluctuations, and reduced opportunities from ethical screens; shares are available with a $100 minimum for investor class and $100,000 for institutional class (waived for certain plans), redeemable via mail, phone, fax, email, or online. The trust is headquartered at 1300 N. State Street, Bellingham, Washington 98225, with the Income Fund (Investor shares) founded on June 23, 1986. Recent developments include a post-effective amendment to the registration statement filed in 2025, reflecting ongoing regulatory updates to prospectuses and statements of additional information dated September 27, 2024. Saturna Capital sponsored the Imam's Generational Scholarship Fund at Shenandoah University's Center for Islam in the Contemporary World for the 2025–2026 academic year, underscoring commitment to Islamic education alongside fund management. Portfolio management remains led by Monem Salam (MBA, primary manager since 2020), with deputies Scott Klimo (CFA, CIO since 2012) and Bryce Fegley (MS, CFA, CIPM since 2020), maintaining a low portfolio turnover of 9.85% in the most recent fiscal year.