The five best performing Islamic funds

In this gallery, we look at the islamic funds that are registered for sale across the world to bring to you the five best performing funds over one year ending July.

Fund performance is measured by total returns in USD terms.

The AlAhli Saudi mid and small cap equity achieved 17.3% in total returns over one year to end July 2020.

The fund is ranked first in the Saudi Arabia equity sector globally, where its one year total returns surpassed the sector average of 2.7%.

The fund was incepted in August 2008 and currently has manager Abdulaziz A. AlMansour at the helm.

Led by two newly minted AAA-rated managers, Cindy Blandford and Tony Ciero, the global iman fund registered total returns of 23.2% over one year to July. 

The fund has its largest exposure to North America (70.7%), followed by developed Europe (17.1%). The fund is registered for sale in Canada.

Nick Kaiser, who has managed the Amana growth fund since its 1994 inception, stepped down as portfolio manager in May 2020.

A-rated Scott Kilmo, Kaiser’s co-manager since 2012, has since taken over the reins of the fund as lead manager, with co-managers Christopher Paul and Monem Salam.

The $2.4 billion fund has the largest exposure to the technology (52.6%), healthcare (18.6%), and consumer defensive (12.7%) sectors.

The AlAhli healthcare trading equity fund returned 23.6% over one year ending July.

While it was one of top performing islamic funds, the fund is ranked 41 out of 150 in the pharmaceuticals and healthcare sector. Nonetheless, it still outperformed the sector average of 19.9%.

The fund is registered for sale in Saudi Arabia.

The DWS noor precious metals securities fund takes the crown for the top performing global islamic fund. The fund returned 42.6% over one year ending July, and had total returns of 84.7% in the three years, during the same period. 

91.1% of the fund is allocated to gold as of end June. Gold prices recently hit their all-time high in August, surging past $2000 per troy ounce.

The $88m fund has been managed by Scott Ikuss since 2011.