Citadel Income Fund

CTF_u.TO

Not Compliant
Exchange
Sector
Headquarters
Group
The Toronto Stock Exchange
Financials
Canada
Micro cap

Citadel Income Fund is not Shariah Compliant because of its involvement in Closed End Funds and related activities.

7.47%

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
0
$0
$0.00
$0.00
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
-101.25%
78.88%
77.97%
0.00
0.00
0.00%

Shariah Compliance

  • Updated on September 24, 2025
Debt
✓
Non-Compliant Assets
✓
Impure Income
7.47%
✗

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
✓
Impure Income
7.47%
✗

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
✓
Impure Income
7.47%
✗

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
✓
Cash
14.23%
✓
Cash & AR
14.23%
✓
Impure Income
7.47%
✗

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
✓
Cash
14.23%
✓
Cash & AR
14.23%
✓
Impure Income
7.47%
✗

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
7.47%

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Citadel Income Fund (the Fund) is a Canada-based closed-end investment trust. The Fund’s investment objectives are to provide its unitholders with a stable stream of monthly distributions and to preserve and potentially enhance the Net Asset Value (NAV) of the Fund. The Fund invests in a diversified portfolio of securities with the focus on income generation, consisting of equity securities, of principally larger capitalization companies traded on a recognized stock exchange; debt securities with a focus on yield enhancement, with a minimum of 80% of debt securities invested in investment grade debt rated BBB or higher, and income funds. The Fund’s portfolio is managed by Vestcap Investment Management Inc. Artemis Investment Management Limited is the investment fund manager of the Fund. It has a portfolio of investments across various sectors, such as industrial, information technology, real estate, consumer discretionary, and consumer goods and services, among others.

Found the Stock You’re Looking For? Open an Account Today!

Opening an account has never been easier! Please fill out the form here and an advisor will be in touch to walk you through the process!

Still have some further questions?

Schedule a Free Consultation