Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
HDFC Asset Management Company Limited is a mutual fund manager. The Company is in the business of providing asset management services to HDFC Mutual Fund and alternative investment fund and portfolio management and advisory services to clients. The Company offers a comprehensive suite of savings and investment products ranging from mutual funds, including both actively managed and passive options, to portfolio management services and alternative investment opportunities catering to the needs of a diverse customer base. It offers financial management services, financial advisory, brokerage, and consulting services. It has a network of 228 investor service centers (ISCs) across more than 200 cities. The Company offers portfolio management services and separately managed account (SMA) services to meet the investment needs of its clients, including high net worth individuals (HNIs), family offices, domestic corporates, trusts, provident funds, and domestic and global institutions.
HDFA - HDFC Asset Management Company Ltd
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