Press Releases
American Muslim investors donate $4.6 million to charity for Ramadan
Azzad calculates zakah amounts for clients to meet Islamic investing requirements Falls Church, Va., June 14, 2017 — Azzad Asset Management, a socially responsible, faith-based investment firm, announced today that its Muslim clients are expected to donate a record amount of money this year in order to fulfill their religious obligation of giving in charity a certain percentage of their wealth. The company calculates that its clients will give approximately $3.9 million in zakah (mandatory charitable giving) and an additional $700,000 in purification dues, bringing the total to $4.6 million. In a statement, Azzad said: Charity is essential to the proper practice of Islamic investing,
Chevron shareholders vote on business with genocide-complicit governments
Falls Church, Va., 5/31/17 — Shareholders of energy giant Chevron voted today on a proposal for the company to evaluate a policy of no longer doing business with countries believed to be complicit in genocide. The proposal focuses on the nation of Myanmar/Burma, whose military is accused of committing atrocities against the Rohingya ethnic minority. Because the vote tally was greater than three percent in favor, U.S. Securities and Exchange (SEC) rules allow the resolution to be resubmitted next year. Preliminary estimates showed that six percent of shareholders voted for the resolution, according to International Campaign for the Rohingya Executive
Azzad Again Named ‘Top Guns Manager’ by Informa Investment Solutions
Four socially responsible strategies receive top honors for first quarter 2017 Falls Church, Va., 5/17/17 – A leading faith-based asset manager has been recognized with Top Guns status by Informa Investment Solutions’ PSN manager database. Three of Azzad Asset Management’s strategies were among the top 10 performers within peer groups reporting to PSN, the longest-running investment manager database in North America. “We congratulate Azzad Asset Management on their distinction as a PSN Top Gun. This highly anticipated quarterly ranking recognizes elite performers on the leading investment manager database in North America and is widely used by institutional asset managers and investors
Azzad Ethical Fund becomes first halal enhanced index fund in U.S.
(Falls Church, VA, May 15, 2017) — Investment advisor Azzad Asset Management has announced a new investment strategy for its mid-cap growth Azzad Ethical Fund (ticker: ADJEX) that makes it the first halal mid-cap enhanced index fund in the United States. Launched in 2000, ADJEX is an ethically screened mid-cap growth mutual fund sub-advised by Chicago-based Ziegler Capital Management. Last month, Ziegler and Azzad implemented an adjusted investment strategy for the fund that increases the number of stocks in the fund and reduces its expected tracking error. “We still hold more of stocks we believe have the potential to outperform,
