For clients with a OneVest invest account and invested in the OneVest Halal Portfolio, we have shared below how you would treat each asset class.
Please follow the steps in this Help Centre article on how you can see what your holdings are per account/goal: How to see which Assets are being held in my OneVest Halal Portfolio
How to treat different assets in the OneVest Halal Portfolio for Zakat purposes:
Shariah-compliant global Public Equity (ETFs): Treat them as short-term or long-term investments and apply whichever percentage you choose for Zakatable assets.
Shariah Compliant Mortgages (MMF): We have received a Fatwa (attached) which states that unit holders who meet the conditions for the obligation of Zakat will be liable to pay Zakat on the face value of their units in addition to any income they have in their possession from the Fund.
Physical Precious Metals: You would consider it as holding gold or silver
Sukuk (ETF): Treat it as a short-term or long-term investment and apply whichever percentage you choose for Zakatable assets.
Shariah-compliant real Estate Investment Trusts (REITs): Treat them as short-term or long-term investments and apply whichever percentage you choose for Zakatable assets.
