Israeli Study Funds See Losses in October, Mor Leads in Key Sectors
Translated & summarized from Mako by baba
Most Israeli study funds experienced losses in October, with stock tracks showing an average decline of 1.15% and general tracks averaging a 0.25% loss. Mor was the only fund to achieve a positive return in its general track, while still leading in the stock track despite its losses. The weakening Shekel slightly offset some of the negative performance across the sector.
The story in 5 lines · by baba
- Most Israeli study funds saw losses in October, especially in stock investments.
- Mor was the only fund to achieve a positive return in its general track.
- All ten major fund managers experienced losses in their stock tracks.
- The average loss in stock tracks was approximately 1.15% in October.
- The weakening Shekel slightly reduced the overall losses for the funds.
October proved to be a challenging month for Israeli study funds (קרנות השתלמות), with most experiencing losses, particularly in their stock portfolios. Preliminary estimates indicate that across all ten major fund managers, stock tracks ended the month in negative territory, with an average loss of approximately 1.15%. The general track also saw a slight decline, averaging around a 0.25% loss, though one fund, Mor, managed to achieve a positive return.
In the general track, Mor was the only fund expected to finish October in the black, with a return of 0.35%. Other funds like The Phoenix and Yelin Lapidot saw minor losses of 0.10% and 0.15% respectively. At the lower end, Menora Mivtachim and Altshuler Shaham recorded losses of 0.50% and 0.55%.
The stock track saw broader declines, with Mor again leading but still posting a loss of 0.45%. Yelin Lapidot and The Phoenix followed with losses of 0.70% and 0.85%. Harel, which had performed well in September, finished October at the bottom of the stock track rankings with a 1.85% loss.
These figures are based on preliminary calculations up to the last trading day of October. The weakening of the Israeli Shekel against the US Dollar provided a slight buffer, contributing about 0.3% to the funds' returns and mitigating some of the losses. Final results for October are expected to be published in mid-November.
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