For those interested in stocks/mutual funds, especially "halal" investments.
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Bismillah irRahman irRaheem
In the Name of Allaah, The Most Gracious, The Most Kind
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Hijri date: Friday 11 Jumaada al-awal 1421 A.H.
From: Omar Haydar <[log in to unmask]>
Press Release
FOR IMMEDIATE RELEASE CONTACT: Omar Haydar
(877)417-6161
Allied Asset Advisors Funds
745 McClintock Dr Suite 114
Burr Ridge, IL 60521
(877)417-6161
(630)789-0453
(630)789-9455 (fax)
www.investaaa.com
DATE: July 18, 2000
HEADLINE: Allied Asset Advisors Funds launches the Dow JonesSM Islamic Index
Fund
BODY: Allied Asset Advisors Funds announced the launching of the Dow
JonesSM Islamic Index Fund. The fund, which became effective as
of June 30, 2000, is the first to track the Dow Jones Islamic Market USA
IndexSM, created by Dow Jones Indexes for investors who wish
adhere to Islamic investment guidelines.
The Dow Jones Islamic Market USA IndexSM tracks Shari`ah Law compliant
U.S. stocks. Securities are selected for the Index representing the most
liquid US stocks meeting the Shari`ah investment guidelines. The
objective of the fund is to match the total return of the Index. The Index
consists of U.S. common stocks that meet Islamic investment principles,
precluding certain industries (e.g. alcohol, tobacco, pornography, gambling,
banks, defense) as well as companies that derive a substantial amount of
impure interest income or have high debt. Dow Jones retains a reputable
Shari`ah Supervisory Board to set the criteria for and review the components
of the Index. The fund already has over $21 million in assets, and is
tracking the index well. An ad campaign is being launched to market the
fund.(sample ad attached)"We believe that an SEC registered fund tracking
the Islamic Market USA Index is a long overdue investment vehicle", said
Rushdi Siddiqui, Director of the Dow Jones Islamic Index Group and Business
Development for the Dow Jones Indexes Group. "The Index has performed well,
with a 27.25% average annual return for the four calendar years 1996-1999,
as compared to 24.22% for the S & P 500 Index and 12.40% for the Russell
2000. The Index currently consists of 233 companies, with an average market
capitalization of $27.7 billion and a median
capitalization of $5.7 billion."
"Adhering to Islamic principles does not hinder returns", said Omar
Haydar, the Secretary of Allied Asset Advisors Funds. "Islamic investing is
now much easier. Previously, individual investors had to personally analyze
equities for compliance with their religious principles. Now the work is
done for them. The fund can also be regarded as a universal socially
responsible fund, as it precludes such industries as tobacco, liquor,
defense, and gambling. The Fund is offered in two classes, no load and a
level load that pays brokers a total of 100 basis points per year.
This provides flexibility for investors who either can choose to directly
invest in the no load class, or invest through their existing
broker."
The minimum investment for the fund is $500, and that number is reduced to
$250 for IRA accounts. The fund offers personal as well as corporate, trust,
pension plan, IRA, Roth IRA, and education IRA accounts. Automatic
investment, systematic withdrawal, telephone purchase and redemption, and
check writing services are also available. The fund's prospectus can be
obtained by calling toll-free (877) 417-6161 or online at www.investaaa.com.
Allied Asset Advisors, Inc., based in Burr Ridge, Illinois, is the
investment advisor for the fund. The distributor is Rafferty Capital
Markets, Inc. of White Plains, New York. Vedder, Price, Kaufman, &
Kammholz and Deloitte & Touche, LLP, both of Chicago, Illinois, serve
respectively as the legal counsel and independent auditors for the fund.
Firstar Mutual Fund Services, LLC of Milwaukee, Wisconsin provides fund
administration, accounting and transfer agent services. Firstar
Bank, N.A. of Cincinnati, Ohio, is the fund's custodian.
_.,-*~'`^`'~*-,._.,-*~'`^`'~*-,._.,-*~'``'~*-,._.,-*~'`^`'~*-,._
Omar Haydar - [log in to unmask] - http://www.ais.org/~omh
Secretary/Treasurer - The Dow Jones Islamic Index Fund
(630)789-9191x102 (work) (312)709-0013 (pager)
_.,-*~'`^`'~*-,._.,-*~'`^`'~*-,._.,-*~'``'~*-,._.,-*~'`^`'~*-,._
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Abdoulie A. Jallow
Toll-free number: 1-888-392-4832(Excite2)
Personal extension for v/mail/fax: 291-368-1519
_______________________________________________________
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