Faith on the barrelhead. (Mutual Funds).
Americans are keeping the faith today in many different ways--including how they invest. "The troubling times of the last year have had the effect of forcing many Americans to confront the way in which they lead their lives," says Rusty Leonard, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Stewardship stewardship
the occupation of being a steward or custodian. Referring to animals it implies the caring sort of relationship based on an acceptance of the need to include the rights of animals in overall plans to maintain financial viability. Partners Investment Counsel. "This soul searching has resulted in a new generation of religious investors." While Catholics, Lutherans, and Mennonites dominated the religious mutual fund field in 1999, now the index includes the Dow Jones Islamic Index The Dow Jones Islamic Market Index (DJIM), launched in 1999, was among the first mutual funds created for investors seeking investments in compliance with Muslim Sharia law.
The DJIM has an independent Shari’ah Supervisory Board. Fund and the Christian Science Christian Science, religion founded upon principles of divine healing and laws expressed in the acts and sayings of Jesus, as discovered and set forth by Mary Baker Eddy and practiced by the Church of Christ, Scientist. fund, American Trust Allegiance. Here are some recent findings:
* The number of U.S. religious mutual funds surged from 34 in 1999 to 75 in 2002--an increase of 121 percent. (The growth in the number of mutual funds of all types was just 16 percent.)
* Assets in all U.S. mutual funds (religious and nonreligious) edged up from $4.3 billion in 1999 to $4.8 billion in 2002--a growth of only 11 percent.
* Assets in U.S. religious funds rose from $3.65 billion in 1999 to $4.42 billion in 2002--a jump of 21 percent.
Source: Mennonite Mutual Aid Praxis prax·is
n. pl. prax·es
1. Practical application or exercise of a branch of learning.
2. Habitual or established practice; custom. Mutual Funds (2002).