Dow Jones Islamic Fund

Dow Jones Islamic Fund

Dow Jones Islamic Fund

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Description:
The Dow Jones 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 its inception on June 30, 2000, IMANX has provided Muslim investors with financial alternatives based on Islamic law.

Structure and Activities

The Dow Jones Islamic Fund is offered by Allied Asset Advisers, a subsidiary of the North American Islamic Trust (NAIT). Allied Asset Advisers is the registered investment adviser and manager of the Fund. The Fund invests at least 80% of its net assets in domestic and foreign securities included in the Dow Jones Islamic Indexes, as well as up to 20% of its net assets in securities chosen by the Fund's Investment Adviser 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 Adviser is advised by a Board of Trustees of prominent Islamic scholars from the United States...

Characteristics of the Dow Jones Islamic Fund

  • 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......
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