Javelin to Shutter Islamic Fund

/ Source: GlobeNewswire

PRINCETON, N.J., Sept. 16, 2010 (GLOBE NEWSWIRE) -- 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