Following Principles of Islamic Finance

2018

  • Amana Mutual Funds Quarterly Commentary Q3 2018

    US stock markets enjoyed the strongest quarter of the year over the summer – a resounding rebuke to the old saw, Sell in May and Go Away.  Chief among sources of support for US equity markets has been earnings, boosted primarily by tax reduction with an assist from share buybacks.

     
  • Amana Mutual Funds Trust Quarterly Commentary Q2 2018

    Following a volatile first quarter, US equity markets steadily recovered until a ratcheting up of trade rhetoric and tit-for-tat tariffs in mid-June undermined confidence and shaved a few points off US returns.  Other markets, the developing economies in particular, suffered greater damage...

     
  • Amana Mutual Funds Quarterly Commentary Q1 2018

    Through the first few weeks of 2018 the good times continued to roll as the S&P 500 Index appreciated over 6%.  At the end of January and into early February, however, investors were reminded that the stock market does not move in a linear fashion as the S&P 500 slumped...

     

2017

  • Amana Mutual Funds Quarterly Commentary

    2017 was a remarkable year for equity markets around the world but not entirely in the way we normally think of a “Great Year for Stocks."  While the percentage gains were significant, they were not unprecedented.  As recently as 2013, the S&P 500 Index (SPX) returned...

     
  • Amana Mutual Funds Trust Quarterly Commentary Q3 2017

    Equity indices around the world continued their remarkably steady march higher over the third quarter, despite the war of words that erupted between Donald Trump and North Korean leader Kim Jong-un; an exchange that caused serious people to discuss the risk of miscalculation...

     
  • Amana Mutual Funds Quarterly Commentary Q2 2017

    While markets continued to advance in the second quarter, the pace slowed appreciably from the first; unsurprising considering that signature initiatives of the Trump administration – replacing the Affordable Care Act, tax reform, and infrastructure development – have failed to launch.

     
  • Amana Mutual Funds Quarterly Commentary Q1 2017

    Major US market indices wrapped up the first quarter with gains that could be considered respectable for an entire year.  The appreciation was remarkable considering the context in which it was accomplished.  The three-month period featured the inauguration of a new president who quickly embarked on a series of rookie mistakes...

     

2016

  • Amana Mutual Funds Trust Quarterly Commentary Q4 2016

    What a year! The S&P 500 market kicked off 2016 with a brutal sell-off, dropping nearly 11% in the first six weeks, before staging an unprecedented rally that recovered all the loss and more by the end of March. The rally continued through summer, apart from a brief sell-off in the wake of the UK's Brexit vote...

     
  • Q3 2016 Amana Quarterly Commentary Cover

    Stock markets continued their upward march in the third quarter, although there were some shifts in  leadership. Over the second quarter value stocks were the clear winners, while growth lagged. That reversed in Q3 with the Russell 1000 Growth Index staging a solid rebound, while the Russell Value Index trailed...

       
    • Amana Mutual Funds Trust Q2 2016 Quarterly Commentary

      Second quarter comments from the galaxy of investment managers will likely focus on Brexit (the United Kingdom's vote by referendum to leave the European Union) and the economic outlook for the UK and the EU now that the former has voted to depart the latter. The word "uncertainty" will be in heavy rotation...