It has been several months that the public has been transferring funds to the financial funds. This is not surprising – the interest rate is rising (and tomorrow at 16:00 it is expected to rise again) and therefore financial funds are becoming relevant and more interesting again (here are all the options you have now, against the background of the increase in interest rates on deposits by the banks). So it’s true, realistically it’s still a loss, but in a period of declines in the markets, the public does not want to lose money in the stock market and transfers the money to a risk-free yield in financial funds. In the long term the stock market beats the financial funds, but in the short term the financial funds provide an anchor.
In the funds managed “business as usual” – the money continued to flow out and redemptions of 2.3 billion shekels were also recorded in September, but unlike previous months, redemptions of 693 million and 982 million shekels were recorded in the mutual funds and basket funds respectively.
The result is that a total of 2.32 billion shekels were raised in September, and the raisings since the beginning of the year stand at 2.1 billion shekels – as mentioned thanks to the financial funds that have gained trust in recent months. The public started pouring NIS 14 billion into them only since last June – until then they were of no interest to the public.
Managers table:
In the traditional mutual funds: all the funds paid off with the exception of Forrest which raised NIS 123 million. Since the beginning of the year, traditional industry has lost NIS 16.8 billion. Among the big ones – none have been positive since the beginning of the year. Yelin Lapidot, who was the last, also moves into the negative territory this month.
The big ones continue to lead redemptions. Since the beginning of the year, Altshuler lost 7.6 billion NIS, Meitav lost 2.8 billion, Psagot 2 billion, Kesem 1.9 billion and Harel 1 billion.
To the mutual funds section of Bisportal
In financial funds: very strong fundraising of NIS 6.3 billion
As mentioned, the public sees the increase in interest rates and moves to financial funds. In September they are the only ones who recruited. Harel and Meitav led the recruitments. Shortly after them peaks. The only magic she redeemed.
The public is gradually moving to the passive funds and since the beginning of the year there have been fundraisings of 5.6 billion shekels – but in September he took out 1.68 billion shekels from the traditional industry in favor of the financial funds.
In the traditional mutual funds, almost all of them were redeemed last month, and in the basket funds – all of them were redeemed in September. Harel lost NIS 377 million, Kesem with NIS 288 million. But since the beginning of the year, both the imitation funds and the basket funds have recorded fundraisings of 2.43 and 3.18 billion shekels respectively. In other words – in the month of September money did go out, but in an overall view the public continues to transfer money there from the traditional industry.
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