Compliance Status
Not Halal
Screened on Oct 5, 2026 · AAOIFI Standard 21 look-through
Non-Compliant
Is Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) halal? Not Halal. Looking through its holdings under AAOIFI Standard 21, Rivernorth Managed Duration Municipal Income Fund Inc. 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 Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) Not Halal, 0/100, grade F under AAOIFI Standard 21 look-through, screened Oct 5, 2026. Source: https://halalscreener.app/en/stock/RMM
Basket rule
Over the limitAn ETF is halal when non-compliant holdings stay under 5% of the basket by weight.
96% of the basket's holdings were screened individually.
RMM: Is Rivernorth Managed Duration Municipal Income Fund Inc. Halal?
Rivernorth Managed Duration Municipal Income Fund Inc.
$12.87
Market Cap: 254.0M
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About Rivernorth Managed Duration Municipal Income Fund Inc.
The Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) is a closed-end investment vehicle dedicated to fixed-income assets. It was launched and is managed by RiverNorth Capital Management, LLC, with MacKay Shields LLC serving as co-manager. The fund's strategy involves investing in the U.S. fixed-income markets, with a primary focus on investment-grade municipal debt across all maturities. To guide its investment decisions, the fund utilizes a combination of fundamental and quantitative analysis, underpinned by proprietary research for portfolio construction. Its performance is measured against the Bloomberg Barclays Municipal Bond Index. This fund, domiciled in the United States, commenced operations on July 26, 2019.
Sector: Financial Services · Industry: Asset Management - Income
Shariah Compliance Status
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why RMM 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% (96.1%)
Basket Composition
96% 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.
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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.