Kuala Lumpur, (March 6, 2012) — Saturna Capital Corporation, investment adviser to the Amana Mutual Funds Trust, has announced that its wholly-owned subsidiary Saturna Sendirian Berhad has been granted an Islamic fund management license by the Malaysian Securities Commission. Saturna Sdn Bhd (SSB), through its recently established office in Kuala Lumpur, will provide equity research and Shariah-compliant portfolio management for Malaysian and international investors.
Based in the United States, Saturna Capital is internationally recognized as a premier investment management company specializing in Islamic asset management since 1989. The award-winning Amana Income and Amana Growth Funds are the largest Islamic equity funds in the world open to the public.
"Our office in Kuala Lumpur strategically positions Saturna to meet the growing international demand for our Islamic investment management expertise. We are now able to serve a broader client base in Muslim-majority markets, including individuals, corporations, and institutions," said Nick Kaiser, chairman and founder of Saturna Capital and portfolio manager of the Shariah-compliant Amana Trust Funds. "We chose Malaysia for its business-friendly environment and because the Malaysian government is moving to establish Kuala Lumpur as a global center for Islamic finance."
Saturna used an innovative approach to establishing SSB. "We created the subsidiary through the acquisition of Malaysian investment firm Alpha Asset Management and converted the company’s conventional assets, under management, into Sharia-compliant portfolios of SSB," explained Monem Salam, Saturna’s director of Islamic Investing.
Bryce Fegley, Chief Investment Officer of Saturna Sdn Bhd, will direct international equity research and oversee daily operations of the Kuala Lumpur staff, including investment advisory services, sales, and marketing. Fegley, whose previous experience includes roles as investment analyst and Islamic rating specialist, was instrumental in the developing Saturna’s proprietary Shariah equity screening system. He holds the Chartered Financial Analyst (CFA) designation and has been with Saturna Capital since 2001.
"We believe our approach to Islamic investing is unique," said Fegley. "Saturna’s Shariah screens go beyond a simple filter and are fully integrated in both the equity selection process and ongoing portfolio management. Our proven research and screening capabilities offer access to more diverse asset portfolio and our track record is longer and stronger than the track record of our competitors in KL in managing Shariah-compliant portfolios of US and international equities," he explained.
"Our KL location will allow us to further enhance our global equity research capabilities as we continue to build positive, durable business connections in the global Islamic finance community," Fegley added.
The Capital Markets Services License is granted to SSB by the Malaysian Securities Commission under the Malaysian Special Scheme, which permits the regulated activities of conventional or Islamic fund management under the Capital Markets and Services Act 2007.
Since 2005, Saturna Capital has received eight Islamic investment awards from Failaka Advisors of Dubai, the world leader in Islamic fund research and reporting. They include Best Islamic Fund Manager — Worldwide in 2005, Best Islamic Fund Manager — U.S. in 2006 and 2007, Best U.S. Islamic Fund in one-, three- and five-year categories in 2008 and Best Global Equity, three-year category in 2010.
The Amana Funds have also been recognized with awards and top ratings by prestigious US fund rating agencies Morningstar and Lipper for outstanding long-term performance records.
For more information about Saturna Sdn Bhd, visit www.saturna.com.my.
About Saturna Capital
"Values-Based Global Equity Managers"
Saturna Capital Corporation, established in 1989 in Bellingham, Wash., is the investment adviser and administrator to over $3 billion in assets in the Amana Mutual Funds Trust (which includes Amana Growth Fund, Amana Income Fund and Amana Developing World Fund) and the Saturna Investment Trust. The Amana Income and Amana Growth Funds are the two largest Islamic equity funds in the world open to the public. Saturna Investment Trust consists of six funds: Sextant Growth (domestic equities), Sextant International, (foreign stocks), Sextant Core (bonds and equities), Sextant Bond Income (long-term bonds), Sextant Short-Term Bond, and the Idaho Tax-Exempt Fund.
Saturna Capital also manages private accounts for families, businesses and endowments. Saturna Brokerage Servicesprovides general discount brokerage services and distributes the Saturna mutual funds. Saturna Trust Company, headquartered in Reno, NV, provides trust services to families, charities, trusts, estates and retirement plans, specializing in the administration of Islamic trust services.
Please consider an investment’s objectives, risks, charges and expenses carefully before investing. To obtain a free prospectus that contains this and other important information about Saturna’s funds, call toll free 800/SATURNA or visit www.saturna.com. Please read the prospectus carefully before investing.