Altshuler Shaham Loses $650 Million in August Ahead of Sale
Financial services firm Altshuler Shaham experienced a significant loss of NIS 2.4 billion (approximately $650 million) in assets under management during August. This downturn occurred just before a potential sale of the company, adding pressure to the ongoing negotiations. The article does not specify the exact reasons for this decline but places it within a broader context of market fluctuations.
In other financial news, the dollar strengthened against the Japanese yen by over 1% as authorities attempted to curb a crisis. Turkey is planning to dismantle 130 funds valued at $18 billion. Within Israel's financial sector, Eli Schwartz, the CFO of The Phoenix, is moving to a new role within the company. Additionally, there are reports of a potential 400% exit for Ondas, which is in negotiations to acquire Nirosta North for $250 million.
The article also touches on various investment topics, including an analysis of the S&P 500 for Israeli investors, a guide to index-tracking ETFs for bank stocks, and reasons why the Polish stock market might attract investors. It notes six records set by the dollar-shekel exchange rate in the past 30 years. Furthermore, Sunflare's revenue of $4 billion and substantial profits are highlighted, alongside an investment of $500 million by Moore into an Israeli casino game company, reportedly involving Michael Rochwarger.
Real estate trends are also mentioned, with a discussion on falling apartment prices and the difficulty of selling in Tel Aviv versus Jerusalem. The piece briefly notes a mathematical achievement by a 92-year-old mathematician and a 15-year-old student. Finally, it covers the competitive Israeli landscape in securing AI agents, with 20 startups vying for $750 million in funding, and explores property acquisition opportunities.
