New York Times Interviews Saturna Capital’s Monem Salam for Faith-Based Investing Article
Salam explains how Saturna’s investment methods comply with Islamic faith
Bellingham, WA, May 14, 2021 – In the New York Times article “Faith-Based Investing Makes Up Ground in Gains and Convenience,” reporter Paul Sullivan used the strategies of Saturna Capital as an example and quoted executive vice president and portfolio manager Monem Salam, MBA. The piece was published on May 14, 2021.
The article from the “Wealth Matters” section of The New York Times covered the reasons for and benefits of faith-based investing through the lens of Judaism, Catholicism, and Islam. For the section focused on Islam, Mr. Salam explained the two-part criteria he uses to select investments: avoiding any investment prohibited by Islam and choosing companies that do not have excessive debt. “The difference between Islamic and non-Islamic investors is not in what they’re looking for but in what products are available to them,” he said.
Sullivan’s article also discussed the ways in which faith-based investing “has become easier, and in many cases it’s neither less profitable nor more risky than investing without a religious screen.” More and more companies are offering faith-based investments, and even non-religious investors are attracted to “what they see as a solid investing strategy regardless of its religious tenets.”
Monem Salam is portfolio manager of Amana Income Fund and other managed accounts. Established in 1986 as the Amana Mutual Fund Trust’s flagship fund, Amana Income Fund is the first American mutual fund designed for Muslim investors. Other funds of the trust are Amana Growth Fund established in 1994, Amana Developing World Fund established in 2009, and Amana Participation Fund, a sukuk fund established in 2015.
The Amana Funds limit the securities they purchase to those consistent with Islamic and ESG principles. This limits opportunities and may affect performance.