Fund Description

The fund invests primarily in common stocks, including foreign stocks, with investment decisions made in accordance with Islamic principles. It avoids interest-paying instruments and companies primarily engaged in prohibited businesses such as alcohol, tobacco, pork products, pornography, interest-based banks, finance associations and insurers, weapons, and gambling. Under normal circumstances it invests at least 80% of total net assets in common stocks, diversifies across industries and companies, and principally follows a large-cap value style while favoring firms expected to grow earnings and stock prices faster than the economy; it may also invest in smaller, less seasoned companies. The adviser seeks companies with Islamic and sustainable characteristics, using proprietary and third-party data to assess Sustainability risks and applying negative screening for higher-risk businesses such as fossil fuel exploration, production, or refining. The fund tends to hold investments for several years and may invest cash in murabaha and wakala, including through a wholly owned Cayman Islands subsidiary.