Compliance Status
Not Halal
Screened on Oct 12, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Highland Global Allocation Fund (HGLB) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Highland Global Allocation Fund has 5% or more of its basket by weight in non-compliant holdings with a compliance score of 0/100 (Grade: F).
Quote this verdict
HalalScreener rates Highland Global Allocation Fund (HGLB) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 12, 2026. Source: https://halalscreener.app/en/stock/HGLB
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
42% of the basket's holdings were screened individually.
HGLB: Is Highland Global Allocation Fund Halal?
Highland Global Allocation Fund
$6.38
Market Cap: 150.5M
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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
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why HGLB is rated Not Halal with institutional-grade analysis
Business Activity Screen
FailedChecks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)
- Basket-weighted haram holdings exceed 5% (41.6%)
Basket Composition
42% of basket screenedETFs 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.
Top Holdings
The verdict above is final and free.
Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.
Screened according to AAOIFI Standard 21
Compliance History
Not Halal, unchanged since Sep 2026.
No status changes recorded since we began tracking.
Tracked since Sep 2026. Updates automatically on each re-screen.
Halal Alternatives in Financial Services
This fund is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:
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Frequently Asked Questions
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Screened by holdings look-through under 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. A fund is evaluated by screening its holdings under AAOIFI financial standards and weighing the result, using 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.