Avi Berkowitz, Meitav Lapel Provident and Pension
01/12/2021
November 2021: Moderate price increases.
The general provident funds achieved an average return of about 0.1% as a result of the price increases in the stock markets in Israel and in government bonds in Israel. The range is between a negative return of 0.2% and a positive return of 0.4%. The last day of the month spoiled the nice positive return achieved until 29.11.
From the beginning of the year: Impressive and exceptional return to provident funds: about 12.2% in the general track and about 19.3% in the equity track.
Meitav Dash estimates that the provident funds and the large general education funds will show an average nominal (gross) return of 0.1% in November 2021. This expected return also represents the picture in the industry as a whole, with the yield range of all funds expected to range very wide between a negative return of 0.2% and a positive return of 0.4%.
The price increases in the stock markets in Israel and the price increases in government bonds in the country contributed to the yields of the funds. On the other hand, price declines in overseas stock markets moderated the positive returns.
The stock market in Israel recorded price increases in most indices: the Tel Aviv 35 Index rose by 0.7%, the Tel Aviv 90 Index rose by 2.8%, the Tel Aviv 125 Index rose by 1.4% and the Over 60 Index fell by about 0.9% %.
In contrast, the world’s major stock markets showed price declines in most indices:
In the US: A mixed trend was recorded, with the Dow down 3.7%, the S&P down 0.8% and the Nasdaq up 0.3%.
In Europe, price declines were recorded: The German DAX was down 3.8%, the French CAC was down 1.6% and the Eurostoxx 50 was down 4.4%.
in Japan: The Nikkei was down 3.5%.
The global index of emerging markets fell by 4.1%.
All of these in currency terms of those countries.
The local corporate bond has a mixed trend. The Tel Bond 20 index, the Tel Bond 40 index and the Tel Bond 60 index decreased by 0.3%, 0.5% and 0.4%, respectively. The unrated bonds rose by 0.5%. The bond index General concerns rose by 0.2%.
The government bonds index rose by 1.7%, while index-linked bonds rose by 1.6%, while shekel bonds rose by 2.0%.
January-November 2021 Summary: Impressive and very exceptional return
Global stock markets have shown a very strong positive trend.
In the US: Very strong price increases, with the 500 S&P index rising by 21.6%, the Dow Jones index rising by 12.7% and the Nasdaq index rising by 20.6%.
There was also a strong positive trend in Europe: The German DAX index rose by 10.1%, the French CAC rose by 21.1% and the Eurostoxx 50 rose by 14.4%.
in Japan: The Nikkei rose at a much lower rate of 1.4%.
The global index of emerging markets fell by 6.1%.
All of these in currency terms of those countries.
The stock market in Israel recorded a strong positive trend that outperformed the gains recorded on Wall Street and certainly the stock indices in Europe: the TA 35 index rose by 24.3%, the TA 90 index rose by 28.1%, the TA 125 index rose by Of 24.6% and the over-60 index rose by 22.2%.
There was also a strong positive trend in corporate bonds: The entire corporate bond index rose by 6.9%.
The government bond index has risen by only 3.0% since the beginning of the year.
According to Pander economists, the general training funds showed results of over 1% and up to about 1.5% until the last week of November, but then the declines came due to the omicron panic and erased most of the increases.
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