FALLS CHURCH, Va., June 2, 2014 /PRNewswire/ -- The Azzad Wise Capital Fund (NASDAQ: WISEX), America's first Halal, socially responsible fixed-income mutual fund, has won the 2014 Lipper Fund Award in the Global Bond (Sukuk) category for the one-year period ending 12/31/13. The Fund's investment advisor, Azzad Asset Management, made the announcement at their offices in Falls Church, Virginia.
In a statement, Azzad said:
First, we would like to thank Lipper for this important recognition. Next, we accept this award on behalf of the Fund's shareholders—those who have not wavered in their commitment to 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. We remain committed to generating returns while managing risks for Azzad Wise Capital Fund shareholders.
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 and only Halal, socially responsible fixed-income investment option for those who observe the Islamic prohibition on the giving and taking of usury, 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 and Islamic bank deposits.
About the 2014 Lipper Fund Awards: The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. The Thomson Reuters Awards for excellence also include the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. For more information, please contact email@example.com or visit excellence.thomsonreuters.com. The 2014 Lipper Fund Award winners are selected based on the highest risk-adjusted performance among funds within a given category for the 1-, 2-, 3-, 5-, and 10-year periods ending 12/31/13. The Azzad Wise Capital Fund is the winner of the Lipper Global Islamic Fund Award for the 1-year period in the Bond Global (Sukuk) category. A high Lipper rating does not necessarily imply that the fund had the best total performance or that the fund achieved positive results for the period. Past performance is no guarantee of future results. For current to most recent month-end performance on the Azzad Wise Capital Fund, please visit our website: www.azzadfunds.com.
About Azzad: 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. The firm, based outside Washington, DC, is a registered investment advisor with the U.S. Securities and Exchange Commission.
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.
SOURCE Azzad Asset Management