The number of mutual funds operated by religious groups has risen dramatically in the past five years, and more are expected to be introduced to meet the demand of consumers who seek to align their investing with their beliefs.

From 1993 to 1998, the number of religious mutual funds increased 4.6 times, from six funds to 33, according to Wiesenberger of Rockville, Md. Assets in religious mutual funds rose by 191 percent, from $1.5 billion to $4.5 billion from 1989 to 1999, faster than all funds, Wiesenberger said.

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