Characteristics of The Dow Jones Islamic Fund
- Shariah Compliance - The Fund adheres to the criteria developed by the Shariah Supervisory Board composed of internationally renowned scholars. Based on these criteria, the following businesses are generally excluded: alcohol, tobacco, pork products, conventional financial services (banking, insurance, etc.), weapons, defense, and entertainment. The Fund does not invest in interest-paying instruments (riba) frequently used by mutual funds as temporary investments, and instead may hold cash on a temporary basis.
- Diversification - The Fund offers diversification with a portfolio of over 300 Shariah Compliant companies in diverse business sectors.
- Low Expenses - The Fund is a no-load fund with one of the lowest annual fees of any Shariah compliant fund available.
- Accessibility and Flexibility - The Fund is available at Charles Schwab, Ameritrade and TD Waterhouse, offering flexible accounts and services including telephone purchase and redemption, and check writing.
- Active Portfolio Management - An actively managed portfolio enables the Fund to take advantage of future opportunities in the market while adhering to Islamic legal requirements. Among the securities that meet Islamic principles, the investment adviser determines a security's attractiveness for purchase based on a number of factors, including its anticipated value and record of earnings growth, among other things.
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