Press Releases
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
Azzad Welcomes Greiner as Lead Portfolio Manager for Azzad Ethical Fund
(Falls Church, Virginia, 6/5/13) Azzad Asset Management, advisor to the Azzad Funds and sponsor of the Ethical Wrap Program, announced that Christian Greiner has assumed day-to-day portfolio manager duties for the Azzad Ethical Fund (NASDAQ: ADJEX). Greiner’s promotion to lead portfolio manager comes after former manager Joseph Pappo retired from the fund’s sub-advisory firm, Ziegler Lotsoff Capital Management (ZLCM), in May. Greiner, who has been with ZLCM since 2003, has a long history with the fund, providing fundamental research for the portfolio management team and participating in the stock selection decision making process. He has also worked on the quantitative
Azzad Wise Capital Fund Now on Schwab’s Mutual Fund OneSource® Platform
(Falls Church, Virginia, 5/30/13) – The Azzad Wise Capital Fund (NASDAQ: WISEX), America’s first halal, socially responsible fixed-income mutual fund is now available to investors through the Mutual Fund OneSource® program offered by Charles Schwab and Co., Inc. The fund invests in sukuk, or asset-backed Islamic bonds, as well as deposits and notes from Islamic banks that comply with specific socially responsible and halal financial guidelines. “We continue to work with our strategic partners to make sure the fund is available to everyone who wants it, however they want it,” said Azzad Asset Management President and CEO Bashar Qasem, whose
