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
Starlight U.S. Residential Fund (the Fund) is a Canada-based closed-end trust. The Fund’s investment objectives are to indirectly acquire, own and operate a portfolio primarily composed of income producing multi-family and single- family residential rental properties in the United States residential real estate market that can achieve significant increases in rental rates as a result of undertaking high return, value-add capital expenditures and active asset management. The Company owns a portfolio of multi-family and single-family residential rental properties in the United States of America residential real estate market located primarily in Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington. The Company operates approximately 42 single-family residential rental homes in Atlanta, Georgia. The Fund is managed by Starlight Investments US AM Group LP.
SURFu - Starlight US Residential Fund
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