SECURITIES AND EXCHANGE COMMISSION			    WASHINGTON, D.C. 20549

**FORM N-1A**

**REGISTRATION STATEMENT UNDER 			    THE SECURITIES ACT OF 1933 			    POST-EFFECTIVE AMENDMENT NO. 40**

and

**REGISTRATION STATEMENT UNDER 			    THE INVESTMENT COMPANY ACT OF 1940 			    POST-EFFECTIVE AMENDMENT NO. 40**

**SATURNA INVESTMENT TRUST**(Exact Name of Registrant as Specified in Charter)

1300 North State Street  Bellingham, Washington 98225-4730  (Address of Principal Executive Offices)

Registrant's Telephone Number — (360) 594-9900

Nicholas Kaiser, President			    1300 North State Street			    Bellingham, Washington 98225-4730			    (Name and Address of Agent for Service)

 

It is proposed that this filing will become effective:  [ X ] Immediately upon filing pursuant to paragraph (b)  [ ] on _________ pursuant to paragraph (b)   [ ] 60 days after filing pursuant to paragraph (a)(1)  [ ] on _________ pursuant to paragraph (a)(1)   [ ] 75 days after filing pursuant to paragraph (a)(2)   [ ] on _________ pursuant to paragraph (a)(2) of rule 485

If appropriate, check the following box:  [ ] this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

EXPLANATORY NOTE

This amendment is being filed solely to submit exhibits containing risk/return summary information in interactive data format that is identical to the risk/return information filed as part of Post-Effective Amendment No. 38 filed on March 30, 2012. XBRL exhibits were truncated from a previous filing on April 18, 2012.

## Signatures

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Trust has duly caused this registration statement to be duly signed on its behalf by the undersigned, duly authorized, in the City of Bellingham, State of Washington, on the 30th day of March, 2012. 

 SATURNA INVESTMENT TRUST

 By */s/ Nicholas F. Kaiser*                  Nicholas F. Kaiser,                  President

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, this amendment has been signed below by the following persons in the capacities and on the date indicated.

| Signature                                                                                                                                                                                                                                                        | Title                                                                  | Date           |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------|----------------|
| */s/ Nicholas F. Kaiser*                      Nicholas F. Kaiser                                                                                                                                                                                                 | President; Trustee                       (Principal Executive Officer) | March 30, 2012 |
| */s/ Christopher R. Fankhauser*                      Christopher R. Fankhauser                                                                                                                                                                                   | Treasurer                       (Principal Financial Officer)          | March 30, 2012 |
| ** John E. Love                      ** Ronald H. Fielding                       ** Gary A. Goldfogel                      ** Herbert G. Grubel                      
** By */s/ Nicholas F. Kaiser*                        Nicholas F. Kaiser, Attorney-in-fact | All other Trustees                                                     | March 30, 2012 |

 

## Exhibits

Exhibits included with this filing: 

> 
(1) XBRL Instance Document filed as Exhibit Ex-101.ins.

(2) XBRL Taxonomy Extension Schema Document filed as Exhibit EX-101.sch.

(3) XBRL Taxonomy Extension Labels Linkbase filed as Exhibit EX-101.lab.

(4) XBRL Taxonomy Extension Presentation Linkbase Document filed as Exhibit EX-101.pre.

(5) XBRL Taxonomy Extension Definition Linkbase filed as Exhibit EX-101.def.

(6) XBRL Taxonomy Extension Calculation Linkbase filed as Exhibit EX-101.cal.