Goldman Sachs gets back in the sukuk business
In a landmark offering made on the 16th September 2014, Goldman Sachs became the first US bank to issue sukuk. Sources say the New York-based lender attracted bids for three times the US$500 million of sukuk it sold. The five-year sukuk was priced to yield 90 basis points, or 0.9 percentage point, over the benchmark […]
New white paper outlines performance of Islamic investment strategies
(Falls Church, Virginia, 9/16/14) – Azzad Asset Management today announced the release of a white paper detailing the impact of halal investing guidelines on investment performance. Examining historical data over the last two decades, the white paper offers evidence that Shari’ah-screened indices, which favor industries like information technology and health care and exclude financial services, […]
Women and Investing
Did you know that women generally earn notably less than their male counterparts? Or that married women are likely to outlive their husbands? Watch as Azzad’s Fatima Iqbal, CFP® explains how to deal with these financial predicaments.
Purification calculator helps investors avoid unethical profits
(Falls Church, Virginia, 8/13/14) – Azzad Asset Management today announced the launch of an online tool intended to help American Muslims observe halal investing guidelines. Using input provided by shareholders of the Azzad Mutual Funds, an online purification calculator will provide a user-specific dollar amount that represents unintentional earnings that were potentially derived from religiously […]
Zakah and Purification: Forgotten Pillars of Islamic Finance?
Most people know the basics of Islamic finance: avoid interest, stay away from prohibited lines of business, and make sure your advisory board has the right credentials. But it’s not every day that people talk about zakah and purification. Both concepts are inseparable from Islamic finance but are regularly omitted from the conversation. Let’s look […]
Azzad clients expected to donate a record $3 million to charity this Ramadan
(Falls Church, Virginia, 7/10/14) – Azzad Asset Management announced today that it has mailed annual Zakah and purification totals to clients. Observant Muslims will use the calculated figures to fulfill their charitable giving obligations for the year. Assuming clients donate the amounts reported on their statements, Azzad representatives say that approximately $3 million will be […]
LPL Financial adds Azzad Funds to mutual fund platform
(Falls Church, Virginia, 7/2/14) – Two no-load, socially responsible mutual funds that observe Islamic investing criteria can now be purchased through the LPL Financial mutual fund brokerage and wrap platforms. The Azzad Funds, known for their rigorous adherence to halal investing guidelines, were added to the platform in June, giving affiliated financial advisors access to […]
Press conference with Federated
These are short excerpts from the press conference in 2014 when Azzad announced that Federated Investment Management Company would serve as sub-advisor to the Azzad Wise Capital Fund.
Federated to sub-advise first US halal fixed-income fund
WASHINGTON, D.C., June 17, 2014 — Azzad Asset Management announced today the selection of Federated Investment Management Company, a subsidiary of Federated Investors, Inc., as sub-advisor for the Azzad Wise Capital Fund (NASDAQ: WISEX), America’s first halal, socially responsible fixed-income mutual fund. “We understand the trust given to us as managers of this unique portfolio,” […]
The strategic investor: Using fixed income to meet your financial goals
When evaluating investment performance, investors should consider both return and risk. Unfortunately, many investors stress the importance of the former and neglect the latter. This is particularly true when the markets are recording new highs like we’ve seen lately. The reverse is true when the markets are recording new lows. Investors start to exaggerate their risk […]
