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
Brompton Lifeco Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund invests in a portfolio of common shares of four Canadian life insurance companies. The Fund’s objectives in managing its capital are to provide holders of preferred shares with fixed, cumulative, preferential quarterly cash distributions and to return the original issue price to the holders of the shares on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions. The Fund invests in a portfolio comprised of common shares of four major publicly traded Canadian life insurance companies. The Fund’s portfolio of investments is managed, and performance is evaluated, on a fair value basis. The Fund is primarily focused on fair value information and uses that information to assess the assets’ performance and to make decisions. The Fund’s manager is Brompton Funds Limited.
LCS - Brompton Lifeco Split Corp
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