Azzad meets with PM of Mid Cap Value Strategy for Ethical Wrap Program
11/13/2013 3:37:04 PM
President and CEO Bashar Qasem with Pekin's Josh Strauss Azzad staff with Strauss during the meeting
Josh Strauss, CFA, portfolio manager and Senior Vice President at Pekin Singer Strauss, dropped by the office for a sit-down with Azzad management. He shared his take on the markets, pointing out the likelihood of more quantitative easing from incoming Federal Reserve chair Janet Yellen and its possible impact on equities and commodities. Josh also updated the staff on the Mid Cap Value strategy that he and his team manage for Azzad Ethical Wrap Program clients. He talked about several companies owned in the portfolio and others that aren’t, because they don’t pass Azzad’s screening criteria. That kicked off a great discussion about the challenges and opportunities of using halal, socially responsible screens as part of the portfolio management process. As a value manager, Josh has a smaller universe of Islamically compliant stocks to pick from (e.g., financial stocks, which are typical fare for value investors, are off-limits because of the Islamic prohibition on lending with interest). But the upside of sticking with the Azzad strategy outweighs the downside, according to Josh. “I think the combination of Shariah screens and the Pekin Singer Strauss value strategy is a killer combo,” he said.
We think so, too.
Read more about Josh and the role he plays in the Azzad Ethical Wrap Program: Meet the Managers - Pekin Singer Strauss Asset Management
Opinions expressed are those of the author or fund manager, are subject to change, are not guaranteed and should not be considered recommendations to buy or sell any security and should not be considered investment advice.
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Investments in smaller and medium sized companies involve additional risks such as limited liquidity and greater volatility. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower rated and non-rated securities present a great risk of loss to principal and interest than higher rated securities.
The Azzad Wise Capital Fund is non-diversified with a high concentration of securities in the financial sector which can expose the Fund to more volatility and/or market risk than diversified funds. The Fund may not achieve its objective and/or could lose money on your investment in the Fund. The Fund mainly invests in securities issues by foreign entities which expose the Fund to country specific risks such as market, economic, political, regulatory, geographical, and other risks. The Fund intends to invest in certain instruments that may be illiquid. As a result, if the Fund receives large amount of redemptions, the Fund may be forced to sell such illiquid investments at a significant loss to be able to meet such redemption requests. See the prospectus for more details about risks.