FALLS CHURCH, Va., March 24, 2023 — The Azzad Wise Capital Fund (NASDAQ: WISEX), America’s first halal fixed-income mutual fund, has won a Lipper Fund Award in the 3-Year and 5-Year International Income categories for the period ending 12/31/22. The Fund’s investment advisor, Azzad Asset Management, made the announcement at their offices in Falls Church, Virginia.
In a statement, the firm said:
We accept this award on behalf of the Azzad Wise Capital Fund’s shareholders—those who invest with faith in the Azzad mission. As part of that mission to help investors grow their wealth in accordance with their values, the Azzad team will continue to seek out opportunities that reward principled investing.
Azzad also thanked Federated Hermes Investment Management Company, which has been the Fund’s sub-advisor since 2013.
Over its history, the Azzad Wise Capital Fund has proven to be an important diversification and income-generating tool for investors in search of alternative investments and emerging market yield. It is the first Shariah-compliant fixed-income investment option for those who observe the Islamic prohibition on the giving and taking of riba, or interest. Although it does not invest in securities that deal with debt instruments created from interest-based lending, the Azzad Wise Capital Fund invests in securities that seek to share in the gains from its ventures, which include sukuk, Islamic bank deposits, and trade finance.
The Azzad Wise Capital Fund celebrates its 13th anniversary this April. Azzad Asset Management launched its first halal mutual fund, the Azzad Ethical Fund (NASDAQ: ADJEX) on December 22, 2000.
About the 2023 Lipper Fund Awards
The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. According to the methodology, if a fund has official sales registration in one of Lipper’s award universes and is within an eligible classification with at least 3 years track record, it will be taken into consideration in awards calculations. For funds to be considered, they need to provide their fund/s data to the Lipper Data team. (There is no cost associated with this.) Past performance is no guarantee of future results. For current to most recent month-end performance on the Azzad Wise Capital Fund, please visit azzadasset.com.
Azzad Asset Management, investment advisor to the Azzad Funds and sponsor of the Azzad Ethical Wrap Program, is committed to providing investment services designed to help people enjoy optimum performance without compromising their values. Azzad is a member of the Forum for Sustainable and Responsible Investment and the Accounting and Auditing Organization for Islamic Financial Institutions.
Please consider a Fund’s objectives, risks, charges and expenses carefully before you invest. Fixed income investments entail interest rate risk, the risk of issuer default, issuer credit risk, and price volatility risk. Funds investing in bonds can lose their value as interest rates rise and an investor can lose principal. The prospectus contains this and other important information. For a hard copy, please call 1-888-350-3369. Read the prospectus carefully before investing or sending money. The Azzad Funds are self-distributed. Azzad Asset Management serves as investment advisor.