Nowadays, investment is one of the necessities of people's lives, and indirect investment through investment funds is a general and comprehensive response to this need. Individuals choose which type of fund to invest in based on criteria such as the level of risk acceptance. The leveraged equity investment fund has been designed and implemented in response to the taste of risk-taking investors, and on the other hand, it also responds to the taste of risk-averse investors. This fund has two types of investment units: premium unit (for risk-taking investors) and normal unit (for risk-averse investors). In exchange for guaranteeing a yield corridor for ordinary investors, the holders of premium units accept the risk of positive and negative fluctuations in the stock price of the investment portfolio; It is natural that with the created leverage, they will suffer more returns in rising market conditions and more losses in recession conditions. In this article, the design of these funds has been examined jurisprudentially by analytical and comparative method. The legal nature of these funds can be depicted in two ways: 1) the parties to the investment contract are ordinary investors and privileged investors; and 2) the parties to the investment contract are the investors (both ordinary and privileged) and the fund (as a legal entity). In both cases, the activity and transaction of investment units of the mentioned fund have no shari'a problems within the framework of Imami jurisprudence. Also, in the resolution of Shariah committee of the Securities and Exchange Organization considered the formation of this fund as a condition of the contract based on the peace of interests and property by the partners (owners of ordinary units and premium units).