Azzad Asset Management Cuts Fund Fees
Published July 2nd, 2009
Azzad Asset Management, Inc. today announced lower expenses for the Azzad Ethical Mid Cap Fund (ADJEX). The fund now offers one of the lowest expense ratios for an actively managed, socially responsible mutual fund. For a low $1,000 minimum investment the fund offers a low-cost solution for investors who want to include socially responsible investing as part of their investment strategy.
With an expense ratio of 0.99%*, the Azzad Ethical Mid Cap Fund is less expensive than many of its peers including:
Socially Responsible Fund Expense Ratio Parnassus Mid Cap 1.20% Calvert Mid Cap Value A 1.59% Ariel Appreciation 1.19% Source: Morningstar, www.morningstar.com.
“More than ever, shareholders are demanding lower cost funds. Unfortunately, socially responsible funds are generally more expensive than their peers,” said Bashar Qasem, Azzad CEO. “We want to open up socially responsible investing to all investors — especially those that may have avoided it because of higher fees.”
The Azzad Ethical Mid Cap Fund is a no-load mutual fund that avoids investing in unethical businesses including those that profit from alcohol, tobacco, gambling, weapons and conventional financial services. The fund favors companies with low debt, sound business practices and promising businesses.
Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can view, download and print a prospectus on our website at www.azzad.net. Please read the prospectus carefully before investing.
About Azzad Asset Management, Inc.
Founded in 1997, Azzad Asset Management, Inc. is a socially responsible investment advisory firm located in the suburbs of Washington DC. In addition to serving as the investment adviser to the Azzad Funds, the firm sponsors a socially responsible asset allocation program and manages various model portfolios for institutional clients. More information is available at www.azzad.net.
*Effective July 1, 2009, Azzad Asset Management, the investment adviser for the fund, has agreed to waive all or a portion of its fees or reimburse the Fund for certain operating expenses, to the extent necessary to limit the Fund’s total net annual operating expenses to 0.99% of average daily net assets. This agreement is in effect for a ten-year period beginning July 1, 2009. “Operating expenses,” for purposes of the expense cap agreement, excludes brokerage costs, interest, taxes, litigation, and other extraordinary expenses. Any waiver or reimbursement of operating expenses by the adviser is subject to repayment by the Fund within three fiscal years after such reimbursement or waiver occurred, if the Fund is able to make the repayment without exceeding the 0.99% expense limitation.
