LPL Financial adds Azzad Funds to mutual fund platform Shariah-compliant funds now available through nation's largest independent broker dealer
FALLS CHURCH, Va., July 8, 2014 /PRNewswire/ -- Two no-load, socially responsible mutual funds that observe Islamic investing criteria can now be purchased through the LPL Financial mutual fund brokerage and wrap platforms. The Azzad Funds, known for their rigorous adherence to Halal investing guidelines, were added to the platform in June, giving affiliated financial advisors access to Shariah-compliant options for their clients, including, for the first time, a Halal fixed-income fund. The Funds' investment advisor, Azzad Asset Management, made the LPL announcement from their offices in Falls Church, Virginia.
"Many Shariah-sensitive clients are currently served by LPL advisors," said Azzad Asset Management's Sr. Investment Strategist, Fatima Iqbal. "This announcement gives those clients access to important growth and income-generating investment options that align with their faith. Added Iqbal, "We will continue to work with partners like LPL Financial to make sure the Azzad Funds are available to a broad segment of the American investor public."
The Azzad Funds include the first Shariah-compliant fixed-income mutual fund in the United States, the Azzad Wise Capital Fund (NASDAQ: WISEX). The Fund won a Lipper Fund Award in June for Best Global Sukuk Fund for the one-year period ending 12/31/13. Azzad launched its mid-cap growth fund, the Azzad Ethical Fund (NASDAQ: ADJEX), in December of 2000.
See: Azzad Wise Capital Fund wins 2014 Lipper Fund Award (PR Newswire)
See also: Federated to sub-advise 1st Shariah-compliant, US fixed-income fund (PR Newswire)
About LPL Financial
LPL Financial is the nation's largest independent broker dealer. With offices in Boston, Charlotte, and San Diego, LPL Financial serves more than 13,000 independent and registered investment advisors. The firm's Institution Services group supports financial advisors at approximately 700 regional and community banks and credit unions nationwide.
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.
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 firstname.lastname@example.org 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.
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