Press Releases
Azzad representative to speak at 50th annual ISNA Convention
(Falls Church, Virginia, 8/27/13) – On Sunday, September 1, Azzad investment advisor Fatima Iqbal, CFP® will present at a panel on Islamic finance as part of the 50th annual Islamic Society of North America (ISNA) Convention in Washington, DC. Her session will focus on the Islamic understanding of endowments and how trustees can position legacy investments for long-term growth. Part of Iqbal’s remarks will focus on the Azzad Wise Capital Fund (NASDAQ: WISEX), an Islamic international income fund with characteristics similar to alternative assets often sought by endowments. The Fund, which invests primarily in overseas Islamic bank deposits and Sukuk,
Kayne Anderson Rudnick to manage strategy for Azzad Ethical Wrap Program
(Falls Church, Virginia, 8/14/13) — Azzad Asset Management today announced an agreement with Kayne Anderson Rudnick Investment Management (KAR) to add the Los Angeles-based company to its lineup of institutional money managers. KAR serves as portfolio manager for the small-cap growth strategy in the Azzad Ethical Wrap Program effective August 1. The firm’s selection of KAR comes after an exhaustive due diligence and talent search process. Azzad ensures that all prospective managers agree to comply with their socially responsible Islamic investment process, in addition to confirming that they are able to meet strict performance and stock selection criteria. Azzad’s analysts
Azzad meets with South African ambassador about Islamic finance
(Falls Church, Virginia, 7/24/13) – Representatives from Azzad Asset Management met today with His Excellency Ebrahim Rasool, Ambassador of the Republic of South Africa to the United States, at his offices in Washington, D.C. Azzad requested the meeting to discuss potential investment in South Africa as part of the portfolio held by the Azzad Wise Capital Fund. The Azzad Wise Capital Fund (NASDAQ: WISEX), America’s first halal fixed-income mutual fund, invests in Sukuk, or asset-based Islamic bonds, as well as deposits and notes from Islamic banks that comply with specific socially responsible and halal financial guidelines. In recent years,
Azzad issues annual zakah and purification statements to American Muslim clients
(Falls Church, Virginia, 7/24/13) – Azzad Asset Management, advisor to the Azzad Funds and sponsor of the Ethical Wrap Program, announced today that it has completed annual Zakah and purification calculations for investors. Statements have been delivered to clients, who will use the calculated figures to determine their required charitable giving for the year. Assuming clients donate the amounts reported on their statements, Azzad representatives say that approximately $2 million will be donated to charity in the United States and abroad. The firm uses a proprietary, self-developed software program to calculate the amount of money clients are advised give to
