Management of the Fund

Allied Asset Advisors, Inc. (AAA) is distinct due to its relationship with the North American Islamic Trust, Inc (NAIT), the founder of halal investment options in America.

Portfolio Manager

Dr. Bassam Osman is the portfolio manager, solely responsible for the day-to-day investment management of Iman Fund. He has been a Portfolio Manager and the Chairman of Allied Asset Advisors since 2000, and has managed Iman Fund since its inception. The SAI provides additional information about the portfolio manager’s compensation, other accounts managed by the portfolio manager and the portfolio manager’s ownership of securities in the Fund.


Chairman & Portfolio Manager

Dr. Bassam’s involvement in Islamic finance and the investment industry began in the 1980s. Before launching Iman Fund in 2000 with his team, he was instrumental in founding shari’ah-compliant funds in America and had already very successfully served the first halal investment institution as its chairman. 

Now with over 40 years of experience in the field, Dr. Bassam continues as Portfolio Manager of Iman Fund, a position he has held since its inception.  

Neurologist by profession and community servant by mission, Dr. Bassam Osman has also served in many leadership roles in the Muslim community. He is one of the co-founders of Council of Islamic Organizations of Greater Chicago, (CIOGC) and was Chair of its By-Laws and Membership Committees. He intimately worked with Islamic Society of North America (ISNA), as well as several other Islamic organizations such as Mosque Foundation, MECCA Center and Universal School. He currently serves as a member of board of trustees at NAIT.  

The North American Islamic Trust (NAIT)

NAIT is the oldest and leading organization in the field of Islamic investing. It is the controlling entity of Allied Asset Advisors and, as of August 31, 2021, owned 44.63% of the outstanding shares of the Fund. NAIT intends to exercise its voting rights on issues that come before shareholders, which will are likely to affect the outcome of the vote.

The Investment Advisory Agreement (IAA)

The IAA for the Fund provides that the management fee paid to the Advisor is based on the Fund’s average daily net assets. This fee is disclosed each year in our Annual Report as of the end of May.

A discussion regarding the basis of the Board of Trustees’ approval of the Advisor’s Investment Advisory Agreement with the Fund is also available in the Fund’s Annual Report to Shareholders.

Transfer Agent, Administrator and Distributor

Quasar Distributors, LLC, a subsidiary of Foreside Financial Group, LLC, registered broker-dealer and member of the Financial Industry Regulatory Authority, Inc. (FINRA), serves as distributor of the Fund’s shares (the “Distributor”). It is located at 111 East Kilbourn Avenue, Suite 2200, Milwaukee, Wisconsin 53202.

Custodian, Auditors, Legal Counsel

U.S. Bank, N.A., is the custodian of the Fund’s assets. 

Cohen Fund Audit Services, Ltd. is the Fund’s auditor.

Latham & Walkins LLP is the Fund’s legal counsel.