What to make of last quarter’s market volatility

Recent market volatility is a reminder that there are risks to investing. Given that markets has risen over the past 10 years without a major pullback, a downturn is a normal and healthy part of market movements. Without corrections, markets can become overvalued and bubbles can form. Concerns about an economic recession, however, are still low; we continue to see strong fundamentals and a generally sound economy. Economic data remains strong, including consumer confidence, retail spending, and employment trends. And although the Fed has raised interest rates, they are still far below levels that might choke off economic growth. All of this begs the question: if everything is fine, why did markets drop so suddenly? Several fear factors have come together to spook investors, including trade with China, uncertainty in Washington, and the Federal Reserve’s interest rate policy. These factors may continue to cause fluctuations in the short term, but it’s important to keep in mind that these do not reflect the fundamentals of corporate America or the economy. Another factor likely contributing to rapid market decline is that much of the trading these days is done through hedge funds, ETFs, and automated trading. One manager noted that some 150

January 4, 2019 No Comments

Fatima Iqbal: Reflecting on 10 years with Azzad

Ten years ago, Fatima Iqbal joined Azzad as a financial advisor and the company’s first CERTIFIED FINANCIAL PLANNER™. She joined while the Global Financial Crisis was unfolding, just a few weeks before Lehman Brothers declared bankruptcy and a couple of months before President Bush signed into law the Emergency Economic Stabilization Act of 2008, which included the $700 billion asset purchase program to bail out financial institutions. Markets bottomed out on March 6, 2009, but immediately began to bounce back, beginning the historically long bull market that we’re enjoying today. In 2010, the economy started adding jobs on a consistent basis. In fact, the U.S. hasn’t had a single month of job losses since October 2010 — the longest stretch of job gains on record, according to the Bureau of Labor Statistics. As we look back on the last 10 years, we asked Fatima to share her reflections on how Azzad responded to the financial crisis and how the company developed new products to meet the needs of American Muslim investors. I joined Azzad at the end of July 2008. At that time, the markets were volatile and investors were on edge. Some may think it was the worst time

September 10, 2018 No Comments

Private prisons: Wrong at any price

By Fatima Iqbal, CFP® In late February, Attorney General Jeff Sessions reversed a Department of Justice (DOJ) plan to phase out the use of for-profit prisons. This boosted the stock prices of the two publicly traded for-profit prison companies in the U.S., Geo Group and CoreCivic (formerly known as Corrections Corporation of America), which had already seen their share prices soar since the November election of Donald Trump. Last August, we explained why Azzad chooses not to invest in the companies that operate those private prisons, a policy that we maintain today. At the time, Deputy Attorney General Sally Yates cited research showing that private prisons “simply do not provide the same level of correctional services, programs, and resources; they do not save substantially on costs,” and “they do not maintain the same level of safety and security.” What we did not know then is that private prisons may be complicit in an even bigger problem: modern-day slavery. Recently, a federal judge ruled to allow tens of thousands of current and former detainees at an immigration detention facility run by Geo Group to join a class-action lawsuit alleging that they were forced to work for $1 a day or for

March 8, 2017 No Comments

Azzad representative to speak at 50th annual ISNA Convention

(Falls Church, Virginia, 8/27/13) – On Sunday, September 1, Azzad investment advisor Fatima Iqbal, CFP® will present at a panel on Islamic finance as part of the 50th annual Islamic Society of North America (ISNA) Convention in Washington, DC. Her session will focus on the Islamic understanding of endowments and how trustees can position legacy investments for long-term growth. Part of Iqbal’s remarks will focus on the Azzad Wise Capital Fund (NASDAQ: WISEX), an Islamic international income fund with characteristics similar to alternative assets often sought by endowments. The Fund, which invests primarily in overseas Islamic bank deposits and Sukuk, celebrated its three-year anniversary in April. WHAT: Leave a Legacy: A Road Map to the Future WHEN: Sunday, September 1st, at 11:30 am WHERE: Walter E. Washington Convention Center, 801 Mount Vernon Place, NW, Washington, DC 20001, Room 159AB The ISNA Convention is an annual gathering of thousands of American Muslims featuring panel discussions, entertainment, art shows and more. This year’s theme is, “Envisioning a More Perfect Union: Building the Beloved Community.” Azzad Asset Management, advisor to the Azzad Funds and sponsor of the Ethical Wrap Program, has been committed since 1997 to providing investment services designed to help clients

August 27, 2013 No Comments

Azzad representative to speak about Islamic finance on May 26

(Falls Church, Virginia, 5/22/13) – This Sunday, May 26th, Fatima Iqbal, CFP®, an investment advisor with Azzad Asset Management, will present at a panel on Islamic finance as part of the 38th annual ICNA-MAS Convention in Hartford, Connecticut. Her session will focus on the innovation of halal fixed-income investing in the United States and how investors can diversify their portfolios using Islamic alternatives to traditional, interest-bearing fixed-income products. Part of Iqbal’s remarks will focus on the Azzad Wise Capital Fund (NASDAQ: WISEX), an Islamic alternative to a conventional short-term bond fund. The Fund, which invests primarily in Islamic bank deposits and sukuk, celebrated its three-year anniversary in April. WHAT: Halal Fixed-Income: Managing Investment Risks within the Islamic Guidelines WHEN: Sunday, May 26th, at 2:00 PM WHERE: Hartford Convention Center, 100 Columbus Blvd., Hartford, CT 06103, Room 16-17 The ICNA-MAS Convention is an annual gathering of thousands of American Muslims featuring Islamic lectures, entertainment, interfaith events and more. This year’s theme is “Islam: The Pursuit of Happiness.” Azzad Asset Management, advisor to the Azzad Funds and sponsor of the Ethical Wrap Program, has been committed since 1997 to providing investment services designed to help clients enjoy optimum performance without compromising their

May 22, 2013 No Comments