FALLS CHURCH, Va., Aug. 28, 2013 /PRNewswire/ -- Azzad Asset Management, advisor to the Azzad Funds and sponsor of the Ethical Wrap Program, has been named "Best Asset Management Company in the Americas" for the second year in a row by Islamic Finance News (IFN), according to the results of the 2013 Islamic Investor Poll. The poll is a comprehensive survey of the global Islamic asset management industry, asking institutional investors, sovereign wealth funds, and high net worth individuals to identify top talent in 12 categories.
In a statement, Azzad said:
We would like to thank the Islamic finance industry for this honor. Azzad remains committed to driving the growth of Islamic finance in the United States for the benefit of our clients. Thanks in large part to our suite of custom financial planning products, formulated in conjunction with experts in law, finance, and tax policy, we have earned the respect of the Muslim community in America and beyond. From an Islamically compliant endowment (waqf) for mosques and community centers designed to help assets grow in a tax-efficient vehicle to our estate planning package to help preserve family wealth for future generations, the Azzad name has come to stand for integrity and dedication.
Azzad is also known as investment advisor to the Azzad Funds, including the Azzad Wise Capital Fund (NASDAQ: WISEX), the first Halal fixed-income mutual fund in the United States. Investing primarily in Sukuk and Islamic bank deposits, the fund celebrated its three-year anniversary in April. Azzad launched its first Halal mutual fund, the Azzad Ethical Fund (NASDAQ: ADJEX) in 2000.
Azzad was founded in 1997 by Bashar Qasem, a computer engineer who immigrated to the United States from Jordan at the age of 23. Disappointed with the lack of financial solutions and investment options that aligned with his faith, Qasem traveled internationally to learn from scholars, earning licenses to teach and consult on compliance with Islamic finance. He later trained and became licensed to work in the investment industry. Qasem and a colleague created a proprietary computer program -- the Investment Screening/Filtering Application (ISFA) -- to apply Islamic ethical restrictions on investments. Backed by guidelines issued from the Accounting and Auditing Organization for Islamic Financial Institutions, Azzad's ISFA screening tool is still used today to filter out unethical investments from portfolios and to ensure their ongoing compliance with Islamic principles.
About IFN IFN, sponsor of the Islamic Investor Poll, is a publication of REDmoney, a publishing and event company focusing on the global Islamic finance industry. REDmoney provides Islamic finance consulting and training services; organizes and hosts Islamic finance events, forums and seminars; and publishes online and print news and educational material aimed at Islamic finance practitioners.
About Azzad Azzad Asset Management, advisor to the Azzad Funds and sponsor of the Ethical Wrap Program, is committed to providing investment services designed to help clients enjoy optimum performance without compromising their values. The firm, based outside Washington, DC, is a registered investment advisor with the SEC.
Please consider a Fund's objectives, risks, charges and expenses carefully before you invest. 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 the investment advisor.
SOURCE Azzad Asset Management