Mutual funds continue to make a strong comeback


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The mutual funds opened 2021 with continued inflow momentum prevailing since April of last year. From the beginning of the second quarter of last year until the end of the year, funds witnessed inflows of just over 20 billion shekels, and in January this year there is a positive trend for the public to return to the capital market through mutual exchange. The money continued, and inflows totaled 5.4 billion shekels. Thus, within ten months, the mutual fund industry received inflows of 25.5 billion shekels, after recovering more than 40 billion shekels in March 2020, when the Coronavirus pandemic broke out. Money market funds received inflows of 626 million shekels in January, while traditional fund flows totaled 3.34 billion shekels. The total inflows of index funds amounted to 1.83 billion shekels in January, while ETF flows reached 831 million shekels. Only four out of seventeen independent mutual fund management firms had net inflows in January, with all other companies recording net inflows, led by the Premium 2020 Investment House, Migdal Capital Markets, which is managed by CEO Sagi Stein. The mutual fund company of Migdal Capital Markets, headed by Lior Kashryan, was the only company that saw inflows exceeding 1 billion shekels in January, bringing in a total of 1.26 billion shekels in all of its funds, in addition to 4.63 billion shekels inward flows. In the year 2020. In fact, between April 2020 and January 2021, the company had net inflows each month, totaling NIS 9.8 billion over the entire period, as a result of the high ranking of the company’s funds in the bank ratings. In January, Migdal Capital Markets outperformed Harel Finance in Total Funds Under Management. After the capital markets Migdal, at some distance, there is the Meitav Dash and More Investment House, which each had inflows of just over 600 million shekels in January. Soon after comes Kesem, controlled by Excellence Investment House, which in turn is owned by The Phoenix Insurance. Two other investment houses that had triple-digit flows of millions in January were Altshuler Shaham, which was a very positive year, and Harel Finance. At the end of January 2021, mutual funds in Israel had a total of NIS 340.4 billion under management, an increase of 3% over the end of 2020. In terms of the shekel, this is an increase of 10 billion shekels in one month, resulting from the aforementioned flows and an average A positive return of 1.4% in the first month of this year. This is 33% more than in March 2020, when the coronavirus crisis in the capital markets was at its peak. Since then, the funds have grown by 85 billion shekels, but the total funds under management are still less than it was at the end of 2019, when the figure was 352.3 billion shekels. Posted by Globes, Israel business news – en.globes.co.il – February 4, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021


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