Dow Jones Islamic Fund
The Iman Fund (symbol: IMANX) is an American faith based mutual fund that invests in Shariah compliant companies. The fund's 2000 inception catered to the needs of Muslim investors, who not only want to have a financially rewarding investment, but a Shariah compatible one as well. Structure and activities The Iman 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 are 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 Iman Fund Shariah Compliance - The fund adheres