Savings Policies Saw Declines in October, Yelin Lapidot Unique Plus
Translated & summarized from Mako by baba
Savings policies in Israel experienced an average decline of about 0.5% in the general track and 1.35% in the stock track during October, driven by local market losses. Kesherem Yelin Lapidot was the only company to show a gain in the general track for the month. Clal leads in year-to-date and 12-month returns for both the general and stock tracks. Preliminary data suggests these figures may be adjusted as final company reports are released.
The story in 5 lines · by baba
- Savings policies saw average declines of 0.5% in the general track and 1.35% in the stock track in October.
- Kesherem Yelin Lapidot was the only company to achieve a positive return in the general track for October.
- Clal leads in year-to-date and 12-month returns for both general and stock tracks.
- Local market declines were the primary cause of the overall losses in savings policies.
- S&P 500 tracking policies rose 2% in October, aided by a weaker Israeli Shekel.
October proved to be a challenging month for savings policies in Israel, with initial data indicating average declines of approximately 0.5% in the general track and 1.35% in the stock track. The local market was the primary driver of these losses, as the Tel Aviv 35 index dropped 1.4% and the Tel Aviv 90 index fell 1.9% by the end of the month. In contrast, the S&P 500 saw a 0.9% increase, while the Nasdaq lost 2.5%. The Israeli Shekel weakened by about 1.7% against the dollar, which helped to mitigate losses in foreign investments.
Within the general track, where most savings policy funds are managed, Kesherem Yelin Lapidot was the only company to finish the month with a gain, reporting a 0.1% increase. Following them were Kesherem Mor with a 0.05% decrease and Kesherem Analyst with a 0.1% decrease, both managed under Kesherem's Best Invest framework. At the bottom of the monthly table were Menora, Ayalon, and Migdal, with losses of 0.65%, 1.30%, and 1.45% respectively. Year-to-date, Clal leads the general track with approximately 7.8% returns, followed by Kesherem Mor at 7.4% and Menora at 6.9%, compared to an average of about 6.3%.
In the stock track, which requires at least a 75% exposure to equities, Kesherem Yelin Lapidot also posted the smallest loss at approximately 0.1%. Kesherem Mor and Kesherem Analyst followed with losses of about 0.5% each. Harel, Ayalon, and Migdal experienced the steepest declines, with losses around 1.8%, 3.0%, and 3.25% respectively. Clal also dominates the stock track for longer periods, showing returns of about 13.2% since the beginning of the year and 17.9% over the last 12 months.
Savings policies tracking the S&P 500 saw a rise of about 2% during October, largely attributed to the weakening of the Shekel. Over the past three years, Ayalon leads the general track with approximately 52.7% returns, while Clal leads the stock track with about 93.1%. It is important to note that past performance is only an indicator, and the October figures are preliminary estimates.
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