Virtus Global Dividend & Income (ZTR) - Not Halal (Non-Compliant)
Virtus Global Dividend & Income (ZTR) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Financial Services
- Industry
- Asset Management
- Result
- Doubtful
- Reason
- This company requires further review: the industry "Asset Management" has mixed revenue streams that require further analysis. The sector "Financial Services" is not categorically excluded, but deeper analysis is recommended.
Financial Ratios
- Debt Ratio
- Value: 48.0% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 1.7% | Threshold: 30% | Result: Pass
- Non-Permissible Income Ratio
- Value: 19.0% | Threshold: 5% | Result: Fail
Dividend Purification
Purification percentage: 19.03%.Based on the company's financial statements, approximately 19.03% of dividend income comes from non-permissible sources; this is the share many investors donate to purify it. This is derived from identified interest income (19.03% of total income). Some scholars may differ on the exact calculation method.
About Virtus Global Dividend & Income
Virtus Global Dividend & Income Fund Inc. is a closed-ended balanced mutual fund launched by Virtus Investment Partners, Inc. The fund is co-managed by Virtus Investment Advisers, Inc., Kayne Anderson Rudnick Investment Management LLC and Newfleet Asset Management, LLC. It invests in the public equity and fixed income markets of the United States. The fund seeks to invest in securities of companies operating across diversified sectors. It primarily invests in reasonably priced growth (GARP) stocks of large cap companies and investment grade bonds issued by companies and governments. The fund is actively managed. It benchmarks the performance of its portfolio against a composite index comprised of 60% Russell Developed Large Cap Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index. The fund was formerly known as The Zweig Total Return Fund, Inc. Virtus Global Dividend & Income Fund Inc. was formed on September 30, 1988 and is domiciled in the United States.
