the Iman Fund



(Symbol: IMANX)

Investing with Values
 
Contact Us: 877-417-6161
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FAQ

 

What is the Shari'ah?
What is Sunnah?
What is Quran?
What is the Iman Fund (IMANX)?
What is Islamic Market investing?
I'm not Muslim, so I guess the Iman Fund is not for me?
What types of businesses are excluded?
Which brokerage firms do you work with?
How much is the initial investment (minimum amount)?
Helpful Information
What is the Fund's performance and largest holdings?
What is a mutual fund and what are the advantages?

What is the Shari'ah?
Shari'ah (sha-ree-ah)-Literally "the path," this term refers to guidance from God to be used by Muslims to regulate their societal and personal affairs. The Shari'ah is the revealed and the canonical laws of Islam. The Shari'ah is based upon the two original sources of Islamic knowledge, the Qur'an and the Sunnah of the Prophet Muhammad. Muslim jurists, scholars and legislators of every era refer to thes sources in deliberating and deciding upon questions and issues of the day, and make rules and regulations which constitute the Shari'ah.

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What is Sunnah?
Sunnah (soon-nah) -Literally, this term means habit, practice, customary procedure, action, norm, or usage sanctioned by tradition. More specifically, Sunnah refers to Prophet Muhammad's sayings, practices, and habits. The Hadith of the Prophet constitute a written record of his Sunnah. (Source: CIE)

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What is Quran? Qur'an (Quraan) -The word Qur'an means "the recitation" or "the reading," and refers to the divinely revealed scripture of Islam. It consists of 114 surahs (chapters) revealed by God to Prophet Muhammad over a period of twenty-three years. The Qur'an continues to be recited by Muslims throughout the world in the language of its revelation, Arabic, exactly as it was recited by Prophet Muhammad nearly fourteen hundred years ago. The Qur'an is viewed as the authoritative guide for human beings, along with the Sunnah of Prophet Muhammad. Translations of the Qur'an are considered explanations of the meaning of the Qur'an, but not the Qur'an itself. The spelling "Koran" is phonetically incorrect; the more accurate Qur'an should be used. (Source:CIE)

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What is the Iman Fund (IMANX)?
Iman Fund seeks to match the total return of the Dow Jones Islamic Market USA Index. The fund invests in U.S. common stocks that meet Islamic principles. It excludes investments in certain industries such as alcohol, pornography, casinos and interest bearing debt obligations. Any uninvested cash will be held in non-interest bearing deposits.

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What is Islamic Market investing?
Islamic Market Investing refers to investing only in securities that meet Islamic religious guidelines. Islamic Law or Shari`ah Law prohibits investing in lines of business considered unethical.

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I'm not Muslim, so I guess the Iman Fund is not for me?
Actually, the Islamic investing has generated a great deal of interest outside of the Islamic community, since by excluding "unethical" industries; it shares many similarities with the increasingly popular social indexes.

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What types of businesses are excluded?
Producers of alcohol and pork-related products, providers of conventional financial services (banking, insurance, etc.) and providers of entertainment services (hotels, casinos/gambling, cinema, pornography, music, etc.). Tobacco manufacturers and defense and weapons companies although not strictly forbidden for investment under Islamic Law are excluded as well.

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Which brokerage firms do you work with?
We have relationships with some of the most respected names in the investment services industry such as Charles Schwab, TD Ameritrade, Vanguard and Scottrade. We aim to make investing as convenient as possible for our investors.

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How much is the initial investment (minimum amount)?
The initial investment varies depending upon the investment option you choose:

  1. IRA (Investment Retirement Account) : Initial investment of $100.00
  2. Education Fund (Coverdell Education Fund): Initial investment of $100.00
  3. Regular Investment Account: Initial investment of $250.00
  4. Monthly deduction from your Checking Account: Monthly investment $50.00

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Helpful Information

  • Although penalties and taxes are incurred for money taken out of an IRA before age 59 1/2 years, exceptions maybe made, for example buying a home. And by law clients are obliged to take money out at 70 1/2 years of age.
  • Coverdell Education Savings Account & Regular Account money can be taken out without any penalty, as long as the minimum amount remains.
  • Annual Contribution limits: IRA- Individuals and Families: $4000
  • Mail checks to the addresses listed on the application.

The Fund does not offer tax advice. Please contact your tax advisor to determine how current tax laws may affect your specific situation. Since a periodic investment plan involves continuous investment in securities regardless of fluctuating price levels of such securities, the investor should consider his/her financial ability to continue purchases through periods of low price levels. Such a plan does not assure a profit and does not protect against a loss in declining markets.

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What is the Fund's performance and largest holdings?

Click here for monthly fund performance and top 10 holdings.

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What is a mutual fund and what are the advantages?

  • Diversification. A single mutual fund can hold securities from hundreds or even thousands of issuers, far more than most investors could afford on their own. This diversification sharply reduces the risk of a serious loss due to problems in a particular company or industry.
  • Professional management. Few investors have the time or expertise to manage their personal investments every day, to efficiently reinvest interest or dividend income, or to investigate the thousands of securities available in the financial markets. They prefer to rely on a mutual fund's investment adviser. With access to extensive research, market information, and skilled securities traders, the adviser decides which securities to buy and sell for the fund.
  • Liquidity. Shares in a mutual fund can be bought and sold any business day, so investors have easy access to their money. While many individual securities can also be bought and sold readily, others aren't widely traded. In those situations, it could take several days or even longer to build or sell a position.
  • Convenience. Mutual funds offer services that make investing easier. Fund shares can be bought or sold by mail, telephone, or the Internet, so you can easily move your money from one fund to another as your financial needs change. You can even schedule automatic investments into a fund from your bank account, or you can arrange automatic transfers from a fund to your bank account to meet expenses. Most major fund companies offer extensive recordkeeping services to help you track your transactions, complete your tax returns, and follow your funds' performance.

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Mutual Fund investing involves risk; principal loss is possible. The Fund invests in foreign securities which involve greater volatility and political, economic, and currency risks and differences in accounting methods. It is possible that the Islamic Shari'ah restrictions placed on investments and reflected in the main investment strategies may result in the Fund not performing as well as mutual funds not subject to such restrictions.


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Mutual fund investing involves risk; principal loss is possible.

 the Iman Fund is distributed by Quasar Distributors, LLC. Allied Asset Advisors is the registered investment advisor of the Fund.
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