Salaam Kibria
To answer your questions:
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The fund you mentioned is a fund which invests 100% in shares. That’s why it’s labelled “high risk” as the stock market is seen as volatile. In reality, if you look at the companies that the fund invests in, they’re some of the biggest names in the world. So it’s for you to determine what high risk means. For me personally, this sort of stocks fund is not high risk as long as you have a long term mindset. But it’s a choice that you have to make as it’s your money and only you know your time horizon with it.
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The fund invests in a basket of companies. That basket is deemed to be sharia-compliant. So you’ll get exposure to stocks. If you then want to invest in more companies, you can do that yourself by choosing the companies yourself. You will find on our courses section a course on halal stock screening which may be useful. A jargon-free walkthrough on how to make sure a stock is halal | IFG
In addition, you may also find our course on halal investing clears up a lot of your confusion: Halal Investing For Busy Professionals | IFG Courses