Javelin to Shutter Islamic Fund
September 16 2010 - 9:36AM
Javelin Investment Management has announced that its JETS Dow Jones
Islamic Market International Index Fund (NYSEArca:JVS) will cease
trading on October 19, 2010. Launched on July 1, 2009, the fund
failed to attract the level of investor interest that had been
anticipated.
"With over seven million Muslims in the United States, we
believe that Shariah-based investing has a promising future," says
Javelin president and founder Brint Frith, "but we found it
difficult to reach target investors through the marketing channels
typically used by ETFs."
Marketing efforts for Javelin's second offering, JETS Contrarian
Opportunities Index Fund, have proved more successful since its
launch in April of this year. Trading under the symbol JCO, the
fund consists of stocks that have been identified by Dow Jones as
having underperformed in recent years while maintaining relatively
strong fundamentals.
"The contrarian fund is gaining traction," says Frith, "and we
are now developing similar funds that provide strategic solutions
to challenging market conditions."
An investment in the JETS Dow Jones Islamic Market International
Index Fund or in JETS Contrarian Opportunities Index Fund is
subject to investment risk, including the possible loss of
principal amount invested. The risks associated with these funds
include stock market risk, index risk, tracking error risk,
replication management risk, small and mid cap company risk, market
price risk and trading halt risk.
JETS Dow Jones Islamic Market International Index Fund invests
in companies whose principal activities are outside the United
States. This creates the risk that currency fluctuations will
impact the company's results. Trading on foreign markets often
carries the risk that regulatory "circuit breakers" will interrupt
trading. Trading practices vary around the world, as do sovereign
risk and the possibility of war or civil disturbance. These risks
can be more serious in the emerging markets.
Before investing you should carefully consider the fund's
investment objectives, risks, charges and expenses. This and other
information is in the prospectus, which can be obtained by visiting
www.javelinfunds.com. Please read the prospectus carefully before
you invest.
"Dow Jones," and "Dow Jones U.S. Contrarian Opportunities Index
TM" and" Dow Jones Islamic Market International Titans 100 Index
SM" are trademarks of Dow Jones & Company, Inc. and have been
licensed for use for certain purposes by Javelin Investment
Management, LLC. Javelin Investment Management, LLC's JETS Dow
Jones Contrarian Opportunities Fund based on the Dow Jones U.S.
Contrarian Opportunities Index is not sponsored, endorsed, sold or
promoted by Dow Jones, and Dow Jones makes no representation
regarding the advisability of trading in such products.
Foreside Fund Services, LLC, Distributor.
CONTACT: Javelin Investment Management
Charles Tennes
(202) 445-4130
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