The idea for a family of faith-based funds was the idea of a group of Muslim business leaders. They approached Nicholas Kaiser at Saturna Capital to operate the funds in 1984. The funds follow Islamic principles and do not invest in bank stocks or companies that derive more than 5 percent of revenues from alcohol, gambling, pork or pornography.
Amana Trust Income was the initial fund in the family.
Nicholas Kaiser Chairman, President and Trustee at Amana Mutual Funds Trust, Saturna Capital Corporation
Phelps McIlvaine Director, VP, Portfolio Manager, Saturna Capital Corporation