2023-12-18 06:17:33
Investment Managers Optimistic about Israeli Economy in Coming Year
As the year draws to a close, investment managers are not only looking back at the past year, but also looking ahead to forecast the future. One common thread among many of them is the optimism about the ability of the Israeli economy to recover and potentially lead to attractive returns in the coming year.
Guy Mani from Meitav expressed confidence in the potential of the Israeli economy, stating, “I’m willing to take the bet that if there isn’t an all-out war here that will last a long time, Israel could be one of the leaders in the coming year in returns. Because of the expectation of an early interest rate cut, Israel could be in a relatively good place.”
Amir Eyal from Infinity also shared a positive outlook, noting that they have increased their holdings in Israel and see the local market as one that can lead to a very attractive increase in value in both corporate bonds and stocks. However, Eyal emphasized the importance of increased risk management, focusing on investing in the US and Israel in appropriate doses.
However, there are exceptions to this optimism. Kamel Kenny Millin Lapidot expressed reservations about the Israeli market, citing underperformance in relation to world markets and specific risks to the Israeli economy. Despite recent market corrections, Lapidot believes that the Israeli market is still less attractive for investment in both the debt and equity aspects, with the exception of certain sectors unaffected by the security situation in Israel such as defense companies and export-driven companies.
In addition to the Israeli market, investment managers also shared insights about other sectors. Eyal highlighted industries in the US that benefit from a drop in interest rates, such as mid-sized technology companies and leveraged companies in green energy and real estate. Manny also pointed to the technology sector, stating that there is more room for second- and third-tier stocks and weaker sectors like industry to make a comeback.
Overall, the consensus among investment managers is that the Israeli economy has the potential to recover and lead to attractive returns in the coming year, particularly in sectors such as real estate and technology. With a cautious approach to risk management and a focus on specific sectors, these investment managers are looking ahead with optimism for the future of the Israeli economy.
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