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Azzad Wise Capital Fund gets 5-star overall rating from Morningstar

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The Azzad Wise Capital Fund, America's first Halal, socially responsible fixed-income mutual fund has received a five-star overall rating out of 435 short-term bond funds as of 12/31/14 from Chicago-based investment research firm Morningstar, Inc. 

The rating was awarded on the basis of the Fund’s risk-adjusted return, which was in the top decile for the three-year period in the short-term bond fund category. The Fund’s investment advisor, Azzad Asset Management, made the announcement last week.

“The success of this Fund is a reflection of our commitment to the Azzad investment process," says Azzad Vice President Jamal Barmil. “Our diligent, yet principled, pursuit of opportunities in emerging markets has been validated once again by the accolades this Fund has received. We share this honor with our many partners and supporters of halal investing.” 

Last year, the Azzad Wise Capital Fund won a Lipper Fund Award for Best Global Sukuk Fund for the one-year period ending 12/31/13. That same month, Azzad announced its selection of Federated Investment Management Company as the Fund’s new sub-advisor.

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