Bellingham, WA (January 7, 2014) — Saturna Capital Corporation, investment adviser to the Amana Mutual Funds Trust, announced the launch of lower-cost institutional shares of the no-load Amana Income, Amana Growth, and Amana Developing World Funds in response to demand from financial advisors and other institutional investors. The Amana Funds follow a conservative, tax-efficient, value investment style. They are managed by Nicholas Kaiser, nominee to Morningstar’s Ultimate Stock Pickers list for the past four years, and deputy portfolio manager Scott Klimo.
The new shares are traded under the following names and ticker symbols: Amana Income Fund Institutional (AMINX), Amana Growth Fund Institutional (AMIGX), and Amana Developing World Fund Institutional (AMIDX). Existing shares of the Amana Income, Amana Growth, and Amana Developing World are now designated as Investor shares, traded under the original tickers of AMANX, AMAGX, and AMDWX, respectively.
“We created the new Amana shares to offer our larger investors a more cost-effective way to invest in them. The institutional shares deepen our offerings for institutional investors and retirement plans,” said Jane Carten, Saturna’s president and CEO. “Retirement plans favor institutional share classes on their investment menus in response to government policies aimed at lowering fees for retirement plans. Many advisory firms also prefer funds with lower expenses in their model portfolios and managed accounts,” she explained.
Craig Churman, Vice President of Product Development at Saturna, is pleased that Amana Fund institutional shares have so far been well received. “The Funds have long been an appealing choice for conservative, long-term investors who now have the ability to take advantage of lower fees that meet more stringent fiduciary requirements,” he said. “The new, lower-cost shares should appeal to fee-only advisers, retirement plans, trust companies, endowments, and 401(k) plans.”
Amana institutional shares are now available on most major platforms, including National Financial Services (Fidelity), Charles Schwab, Pershing LLC, and TD Ameritrade. Saturna will continue to work in 2014 on making the shares available on additional fund platforms.
For more information about the Amana Funds, please visit www.amanafunds.com or call 888-73/AMANA (888-732-6262).