IslamicFinance.de

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