Apr 23, 2013, 01:38 ET
FALLS CHURCH, Va., April 23, 2013 /PRNewswire/ -- The Azzad Wise Capital Fund (NASDAQ: WISEX), America's first fixed-income mutual fund that invests in sukuk, turned three years old in April. It is categorized as a short-term bond fund and is designed for capital preservation and income.
"We're pleased to see continued interest in our socially responsible investment approach," says Bashar Qasem, President and CEO of the Fund's investment advisor, Azzad Asset Management. "And investors are telling us that they appreciate a Fund that allows them exposure to both emerging markets and an alternative asset class."
The Azzad Wise Capital Fund invests primarily in notes and certificates issued for payment by international financial institutions and foreign governments in compliance with the investment advisor's ethical guidelines. Sukuk (Islamic bonds) are among the products held by the Fund. Sukuk are bond-like instruments issued to obtain an up-front payment in exchange for an income stream to be generated from assets held by the issuer. A major distinction between conventional bonds and sukuk is that sukuk are asset-backed and investors hold an equity stake in those assets.
"Our shareholders know that we carefully vet each holding before adding it to the Fund. This means painstaking research and international travel to visit banks on site to make sure the product fits our investment objectives and ethical guidelines," notes Qasem. "This was true when we started WISEX. And it will continue to be true in the future."
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 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.
CONTACT: Investment Communications Director, Joshua Brockwell, 703-207-7005, ext. 109, [email protected]; Chief Compliance Officer, Manal Fouz, 703-207-7005, ext. 115, [email protected]
SOURCE Azzad Asset Management
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