Taurus Month: The US capital market returned the green color to the cheeks of Israeli study funds, which returned to a positive trend last October, with an average return of 2.42%, compared to a negative average return of 0.63% in September.
Improving global employment trends, against the backdrop of good business results from companies in various fields, which were higher than analysts surveying the companies, led to sharp rises in US and European stock markets, led mainly by US technology stocks. The study fund that achieved the highest return in the autumn month was that of the analyst investment house – 2.87% – 0.8% higher than the study fund of the Migdal insurance company, which seals the table.
The relatively high return led the analyst’s training fund to a cumulative return of 13.19% since the beginning of the year, which is second only to 13.34% – the return achieved by the training fund of the Meitav Dash investment house, which leads the table for this period. Noam Rokach, VP of Investments at Analyst Investment House: “October was characterized mainly by an excess return to the US market in general and the Nasdaq index in particular, with a 7.3% increase in the index.
Alongside it, the indices on the local stock exchange also rose. For example: the Tel Aviv 125 index, which rose by 3.7%, while the sector that excelled in the domestic market was reflected in the banks index. The positive trend of most months of the year, and investment channels reflect the sharp economic improvement after the crisis year – in the world and more so in Israel.
What helped the ‘analyst’ in yields during October is the relatively higher exposure of others to the tradable stock market, which is at the top end of the training funds in the domestic market, while overweighting technology companies. For example, in the technology segment, the funds under our management held exposure to a share of Nvidia, which rose by about 23% this month. In the local market we hold, overweight, income-producing real estate stocks and banks.
The positive trend described by Rokach led the Dow Jones index (Dow Jones – an index that weighs the shares of 30 American giant companies traded on the New York Stock Exchange) to rise by 5.8%, the S & P500 (index that weighs the shares of 500 companies The largest in the US) for an increase of about 6.9% and the Nasdaq 100 index for an increase of about 7.9%.
The US market is expected to continue to be bullish during November as well, but it is precisely the Asian markets – the continent in which many countries celebrate the Year of the Bull – that showed weakness during October as well and did not compensate for sharp gains on “Black September” declines. It should be noted that a study fund is redeemable six years later, and the investment house that continues to believe in Asian markets – Altshuler Shaham – also continues to lead the cumulative return table for five years, with a return of 45.56%. The person who signed the table of study fund returns for November is the study fund of the Migdal Insurance Company, which achieved a return of 2.07%.
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