Faith-based Mutual Funds

We recently listed for you some of the Socially Responsible Mutual Funds that are available. Here are some other notes on such funds:

Morningstar says assets in faith-based funds grew to $17 billion in 2007. That’s up from less than $500 million just 10 years ago. Here’s a look at some of them:

The Timothy Plan stays away from companies involved in pornography, alcohol, tobacco, gambling, abortion services or antifamily entertainment. The Timothy Plan Large/Midcap Value earns Morningstar's top rating. It’s five-year return is more than 16%.

But there aren't just Christian oriented mutual funds out there. The Amana Funds invests according to Islamic principles. It boasts a five-year average annual return near 20%.