What is Highland Global Allocation Fund's Shariah compliance score?

Highland Global Allocation Fund's (HGLB) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Highland Global Allocation Fund pass AAOIFI screening?

Highland Global Allocation Fund (HGLB) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (HGLB: 0.0%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Highland Global Allocation Fund stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for Highland Global Allocation Fund (HGLB) using the latest financial data.

Where can I screen Highland Global Allocation Fund for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Highland Global Allocation Fund (HGLB) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about HGLB's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

HGLB: Is Highland Global Allocation Fund Halal?

Highland Global Allocation Fund

NYSEFinancial ServicesUS

$7.52

+0.00%

Market Cap: 177.4M

Compliance Status

Not Halal

Screened on Aug 26, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Highland Global Allocation Fund (HGLB) halal? Not Halal. Based on AAOIFI screening, Highland Global Allocation Fund has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Basket rule

Over the limit

An ETF is halal when non-compliant holdings stay under 5% of the basket by weight.

46.5% of 5.0% limit

52% of the basket's holdings were screened individually.

About Highland Global Allocation Fund

Highland Global Allocation Fund (HGLB) is structured as a closed-end investment vehicle. Its primary objective is to foster sustained capital appreciation and generate a steady stream of income over the long term. The fund accomplishes these goals by strategically deploying capital into a diverse portfolio comprising both domestic and international equities, fixed-income instruments, and money market assets. Established on April 9, 2013, its principal operations are based in Dallas, Texas.

Sector: Financial Services · Industry: Asset Management - Global

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 26, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Basket-weighted haram holdings exceed 5% (46.5%)

Basket Composition

52% of basket screened

ETFs are baskets of many stocks. AAOIFI-aligned rule: basket is halal when haram weight is under 5%. The purification share is the weighted prohibited-income contribution of the underlying holdings.

47%

48%

Halal4%

Doubtful1%

Not Halal47%

Unknown48%

Top Holdings

N/AUnknown23.36%MIDWAVE WIRELESSNot Halal9.75%N/AUnknown5.50%HIGHLAND OPPORTUNITIES AND INCOME FUNDUnknown4.81%WSRWHITESTONE REITNot Halal4.51%NREFNEXPOINT REAL ESTATE FINANCE, INC.Not Halal3.88%ETENERGY TRANSFER LPNot Halal3.87%N/AUnknown3.04%N/ANot Halal2.66%APTVAPTIV PLCNot Halal2.25%

Fiscal: N/AData source: FMP-LOOKTHROUGH

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

GLDA+

SPDR Gold Shares

$398.55

+0.17%

SLVA+

iShares Silver Trust

$57.44

+0.47%

PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

More Financial Services Stocks

JPM

JPMorgan Chase & Co.

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A+

PYPL

PayPal Holdings, Inc.

BAC

Bank of America Corporation

WFC

Wells Fargo & Company

Free · No credit card required

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Frequently Asked Questions

Is Highland Global Allocation Fund (HGLB) halal to invest in?

Highland Global Allocation Fund (HGLB) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Highland Global Allocation Fund get a F compliance rating?

Highland Global Allocation Fund's compliance grade is determined by AAOIFI Standard 21 screening, a two-step process: (1) qualitative screen for prohibited business activities and (2) quantitative check of debt, interest deposits, and prohibited income ratios. Scroll up to see the detailed ratio breakdown.

What could change Highland Global Allocation Fund's Shariah verdict?

Highland Global Allocation Fund's verdict is recalculated whenever the fund rebalances or holdings change materially. If the haram-weight of underlying holdings crosses 5% (the AAOIFI threshold for fund look-through), the verdict will flip to Not Halal. HalalScreener rescreens ETFs at each rebalance cycle.

How often is Highland Global Allocation Fund re-screened for Shariah compliance?

Highland Global Allocation Fund (HGLB) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Aug 26, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.