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Wednesday, July 08, 2009|
An SRI Fund Manager Slashes Fees
Assad Asset Management just lowered the expense ratio for the Azzad Ethical Mid Cap Fund, an actively managed, socially responsible and no-load mutual fund.
The expense ratio for the fund is now down to 99 basis points. With a minimum investment of $1,000, Azzad aims to draw in investors who want low costs but also call for a fund that does not invest in businesses like alcohol, tobacco, gambling and weapons.
"More than ever, shareholders are demanding lower cost funds. Unfortunately, socially responsible funds are generally more expensive than their peers," stated Bashar Qasem, CEO of Assad. "We want to open up socially responsible investing to all investors -- especially those that may have avoided it because of higher fees."
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