Israeli mutual funds are in trouble: 8.5 billion shekels were withdrawn abroad

by time news

According to ‘Calcalist’, the stock exchange data indicate that in the past month, funds were spent from investment funds in the local market that deal in bonds and shares to accounts abroad amounting to approximately NIS 8.5 billion, which is approximately 3.5% of the total assets in the aforementioned market. Furthermore, The mutual funds abroad recorded a jump of 12% after about a billion shekels entered them in a month alone.

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It should be noted that for the most part investing in bonds abroad was not popular for Israeli investors, and this in light of the increase in interest rates, but the recent political developments indicate that they scared the investors enough to take a “risk” on those interest rates and exchange rate fluctuations.

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