News Column

Federated to sub-advise 1st Shari'ah-compliant, US fixed-income fund

June 18, 2014

Representatives from Azzad Asset Management announced the selection of Federated Investment Management Company, a subsidiary of Federated Investors, Inc., as sub-advisor for the Azzad Wise Capital Fund, America's first Halal fixed-income mutual fund.

"We understand the trust given to us as managers of this unique portfolio," said Ihab Salib, Federated Vice President and Head of International Fixed Income, in a statement delivered at the National Press Club.

"We look forward to bringing the knowledge and resources of Federated's global fixed-income team and our firm's more than half a century of investing experience to this exciting opportunity," Salib added.

"The Federated team has researched and purchased Sukuk, a significant holding in the Azzad Wise Capital Fund, for US and European mutual funds, as well as in separately managed accounts for large pension and institutional clients," said Azzad Senior Investment Strategist Fatima Iqbal. "In addition, they have extensive experience managing fixed-income securities, generally. Much of the same analysis will be implemented in their management of the Azzad Wise Capital Fund."

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: CPI Financial

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters