The funds follow a conservative, tax-efficient, value investment style. They are managed by Nicholas Kaiser and deputy portfolio manager Scott Klimo.
The new shares are traded under the following names: Amana Income Fund Institutional, Amana Growth Fund Institutional, and Amana Developing World Fund Institutional. Existing shares of the Amana Income, Amana Growth, and Amana Developing World are now designated as investor shares.
“We created the new Amana shares to offer our larger investors a more cost-effective way to invest in them. The institutional shares deepen our offerings for institutional investors and retirement plans,” says Jane Carten, president and CEO of the Bellingham, Washington-based Saturna. “Retirement plans favor institutional share classes on their investment menus in response to government policies aimed at lowering fees for retirement plans. Many advisory firms also prefer funds with lower expenses in their model portfolios and managed accounts.”
According to Craig Churman, vice president of product development at Saturna, the institutional shares have so far been well received. “The new, lower-cost shares should appeal to fee-only advisers, retirement plans, trust companies, endowments and 401(k) plans,” Churman adds.
The institutional shares are now available on most major platforms, including National Financial Services (Fidelity), Charles Schwab, Pershing LLC, and TD Ameritrade. Saturna will continue to work on making the institutional shares available on additional fund platforms.
More information about the Amana Funds can be found here or by calling 888-732-6262.
Saturna Capital Corporation provides investment advisory services to mutual funds, institutions, businesses, individuals and endowments.