Israeli Study Funds Show Near-Zero Returns in September Amid Market Declines

Israeli study funds experienced near-zero returns in September, with the general track yielding approximately -0.1% and the stock track at 0.2%. This performance is attributed to widespread declines in global stock markets and Israeli government and corporate bonds. The depreciation of the Israeli shekel against the US dollar by 2.5% provided a slight boost, contributing about 0.5% to the overall returns.

Despite the negative trend in general funds, the stock track saw a modest gain. In contrast, the S&P 500 index in the US saw a 0.5% decrease, while the Nasdaq rose 1.9%. European markets experienced significant drops, with the German DAX down 4.0%, the French CAC down 4.4%, and the Eurostoxx 50 down 2.4%. Japan's Nikkei index bucked the trend with a 0.7% increase.

Israeli stock indices showed mixed results. The TA-35 rose 1.6%, and the TA-125 gained 0.5%. However, the TA-90 index fell 2.7%, and the TA-60 remained unchanged. The local corporate bond market also saw negative performance, with the Tel Bond 20 down 0.2% and the Tel Bond 60 down 0.1%. The general corporate bond index decreased by 0.1%.

Government bonds experienced a 0.6% decline, with inflation-linked bonds falling 0.4% and shekel bonds dropping 0.9%. Variable-rate bonds were an exception, rising 0.3%.

Looking at the year-to-date performance from January to September, the general track yielded 6.8%, and the stock track returned approximately 11.6%. Comprehensive pension funds for various age groups also showed positive returns, ranging from 6.0% to 9.2% during the same period.