Saturna’s Elizabeth Alm Talks Sukuk on EisnerAmper Podcast
EisnerAmper’s Engaging Alternatives Spotlight recently featured Elizabeth Alm, Portfolio Manager at Saturna Capital, in an episode focused on sukuk — ethical fixed-income instruments structured to align with faith-based investing principles.
Alm discussed the growth of sukuk and how they differ from traditional bonds, highlighting their prohibition on interest and emphasis on risk-sharing and revenue-generation from real assets. She emphasized the diversification and risk-mitigation advantages for US investors, as sukuk demonstrate lower correlation and volatility compared to conventional bonds and equities.
“Sukuk are a unique asset class that’s not commonly spoken about in the United States, so we find that there can be a preconception of risk related to sukuk or global investing,” Alm said. “But, if you think about it, 60% of the outstanding bond market is located outside the United States. If you’re just looking within the US, you can miss a lot of opportunities.”
The conversation also included candid reflections on gender diversity in the finance industry, with Alm expressing her commitment to inspiring women to pursue careers in fixed income and making the market more accessible.
You can watch the full interview over on YouTube.
About Saturna Capital Corporation
Saturna Capital Corporation, established in 1989 in Bellingham, Washington, USA, is an independent, employee-owned investment advisor based in Bellingham, Washington, managing approximately $10 billion in assets for clients under management, providing investment advisory services to mutual funds, institutions, businesses, individuals, and endowments. Saturna Capital is adviser to the Amana Mutual Funds Trust, the oldest and largest family of funds in the US that follow principles of Islamic finance. Saturna Capital is also adviser to the US-based Saturna Funds.