| Halal Time GMT0800 |
|
|
| Business Halal Online |
|
|
| Halal Ads |
|
| Opportunity |
|
|
| Jom...la |
| |
|
| The Dow Jones Islamic Fund |
| Sunday, December 23, 2007 |
The Dow JonesSM Islamic Fund (symbol: IMANX) invests in Shariah -compliant companies, in response to the needs of Muslim investors, who not only want to have a financially rewarding investment, but a Shariah compatible one as well. Since June 2000, IMANX has provided Muslims with an investment option based on Islamic principles.
The Dow Jones Islamic Fund is offered by Allied Asset Advisors, a subsidiary of the North American Islamic Trust (NAIT). Allied Asset Advisors is the registered investment advisor and manager of the Fund.
The Fund seeks growth of capital while adhering to Islamic principles. The Fund invests at least 80% of its net assets in domestic and foreign securities included in the Dow Jones Islamic Market Indexes (Indexes), as well as up to 20% of its net assets in securities chosen by the Fund's Investment Advisor that meet Islamic principles. The Fund consists solely of common stocks. It includes, among others, shares of stocks from the Dow Jones Islamic Market US Index, which tracks American companies that meet Islamic principles.
The Indexes is advised by a Shariah Supervisory Board of six prominent Islamic scholars from six countries. The Investment Advisor is advised by a Board of Trustees of prominent Islamic scholars and community leaders from the United States.
The Dow JonesSM Islamic Fund offers the following benefits:
• Shariah compliance- The Fund adheres to the criteria developed by the Shariah Supervisory Board composed of internationally renowned scholars. Based on these criteria, the following businesses are generally excluded: Alcohol, Tobacco, Pork-related products, Conventional financial services (banking, insurance, etc.), Weapons and defense, Entertainment (hotels, casinos/gambling, cinema, pornography, music, etc.) The Fund does not invest in interest-paying instruments frequently used by mutual funds as overnight or temporary investments, and instead may hold cash on a temporary basis.
• Diversification - The Fund offers you diversification with a portfolio of over 300 Shariah Compliant companies in diverse business sectors.
• Low Expenses - The Fund is a no load fund with one of the lowest annual fees of any Shariah compliant fund available. (Source: Allied Asset Advisors, 3/27/2006)
• Accessibility and Flexibility -The Fund is available at Charles Schwab One Source, the largest mutual fund marketplace. In addition, we are available through Ameritrade, and TD Waterhouse. We offer flexible accounts and services including telephone purchase and redemption, and check writing.
• Active Portfolio Management - An actively managed portfolio enables the Fund to take advantage of future opportunities in the market while staying true to Islamic principles. Among the securities that meet Islamic principles, the investment advisor determines a security's attractiveness for purchase based on a number of factors, including its anticipated value and record of earnings growth, among other things.
The Fund invests in foreign securities which involve risks relating to adverse political, social and economic developments abroad, as well as currency risks and differences in accounting methods.
In selection of stocks, the Fund adheres to the criteria developed by the Shariah Supervisory Board of the Dow Jones Islamic Market Indexes composed of internationally renowned scholars. The Fund also does not invest in interest-related instruments and may hold cash on a temporary basis. It is possible that such restrictions may result in lower overall Fund performance than those mutual funds which are not subject to such restrictions.
The prospectus contains more complete information, including risks, fees and expenses related to an ongoing investment in the Fund. Please read the prospectus carefully before you invest or send money.
The Fund has been referred to by Morningstar, Cnnfn, The Wall Street Journal and Crain's Chicago Business.Labels: Dow Jones |
|
|
posted by Beebee @ 9:42 PM  |
|
|
|
|
| Previous Post |
|
| Archives |
|
| Links |
|
|
| Powered by |
 |
|
