Amana Growth Fund Institutional Class
AMIGX
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- Amana Growth Fund Institutional Class (AMIGX) is an open-end mutual fund that seeks long-term capital growth by investing primarily in common stocks, including foreign stocks, consistent with Islamic principles. The fund, part of Amana Mutual Funds Trust, normally allocates at least 80% of its total net assets to common stocks selected in accordance with Shariah-compliant guidelines, diversifying across large-cap growth companies in sectors such as technology, healthcare, and industrials; it principally follows a large-cap growth investment style while avoiding industries like alcohol, pork products, conventional financial services, tobacco, weapons, and gambling. Top holdings typically include leading firms such as Apple Inc., Microsoft Corp., NVIDIA Corp., Broadcom Inc., and Taiwan Semiconductor Manufacturing Co. Ltd., with approximately 77% in U.S. stocks, 20% in non-U.S. stocks, and the remainder in cash as of recent reports. Managed by Saturna Capital Corporation, the fund benefits from a team including primary manager Scott Klimo (since 2012), deputy managers Monem Salam (since 2018), and Dan Kim (added October 21, 2025), emphasizing prudent risk management, value investing, and sustainable issuers screened for Islamic compliance. Launched on February 3, 1994, with institutional shares introduced September 25, 2013, the fund is headquartered at 1300 N. State Street, Bellingham, Washington, and operates primarily in the United States, available to U.S. investors with a minimum initial investment of $100,000 for institutional shares. As of May 31, 2025, total net assets stood at approximately $5.27 billion, reflecting a 0.91% increase for the fiscal year ended on that date, supported by a capital gain distribution of $3.14 per share and a qualified income dividend of $0.08 per share for institutional shares. Recent developments include the appointment of Dan Kim as deputy portfolio manager in October 2025, enhancing the management team's expertise in international and growth equity strategies amid ongoing portfolio adjustments for Shariah compliance and market conditions such as AI-driven productivity and stagflation risks.