Press Releases
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,
Azzad joins interfaith investor group seeking worker protections in Bangladesh factories
Shareholder advocates continue call for garment industry safety regulations on 4th anniversary of Rana Plaza disaster FALLS CHURCH, VA, April 25, 2017 – Socially responsible investment firm Azzad Asset Management yesterday marked the fourth anniversary of the largest garment factory accident in history, renewing an interfaith appeal to apparel makers to enact meaningful change in worker and building safety regulations. The appeal comes from the Interfaith Center on Corporate Responsibility, a coalition of shareholder advocates. The April 2013 collapse of the eight-story Rana Plaza factory building in Dhaka, Bangladesh, killed more than 1,100 workers and injured another 2,600. The resulting
Azzad joins interfaith coalition asking SEC to reassess pay ratio rule
(Falls Church, Virginia, 3/22/17) — Azzad Asset Management has joined other faith-based organizations in signing a letter to the United States Securities and Exchange Commission (SEC) calling for the continuation of a rule requiring companies to disclose how much CEOs make compared to their employees. The pay ratio provision is part of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act; it requires publicly traded companies to disclose median employee compensation along with a ratio of how that compares to the chief executive’s pay–information that was previously inaccessible to shareholders. In February, acting SEC Chair Michael Piwowar announced that the
Azzad joins coalition asking CEOs to oppose Pres. Trump’s refugee and immigrant ban
(Falls Church, Va., 2/2/17) — Azzad Asset Management has joined other socially responsible investment institutions in signing a coalition letter to the 19 CEOs who are members of President Trump’s Strategic and Policy Forum, asking them to exercise their influence to oppose the president’s recent executive order barring refugees and certain immigrants from seven majority-Muslim countries. In addition to public outcry against the ban on humanitarian and constitutional grounds, many have pointed out the negative impact of barring international workers on the economy, including several of the CEOs on the presidential forum. Written by the International Corporate Accountability Roundtable, the
