October Losses Hit Most Israeli Provident Funds Amid Political Uncertainty
Translated & summarized from TheMarker by baba
Most Israeli provident funds suffered negative returns in October due to political uncertainty, with the S&P 500 track being a notable exception, posting a 2.5% gain. Despite the monthly dip, year-to-date returns for equity and general tracks remain positive, with the S&P 500 track showing a significant 10.7% average gain for the year.
The story in 5 lines · by baba
- Most Israeli provident funds saw negative returns in October due to political uncertainty.
- The S&P 500 track was a key exception, achieving a 2.5% average positive return in October.
- Year-to-date returns for equity tracks range from 8.3% to 13.3%.
- The general track's year-to-date returns are between 5.2% and 8.3%.
- The S&P 500 track averaged a 10.7% return from the start of the year.
Most Israeli provident funds experienced negative returns in October, largely attributed to political uncertainty within Israel. The primary exception was the S&P 500 track, which saw an average positive return of 2.5%, partly due to a strengthening dollar against the shekel.
Despite the poor performance in October, year-to-date returns remain strong. The equity track has yielded between 13.3% at More and 8.3% at Meitav Lapidot. The general track has returned between 8.3% at Clal and 5.2% at Meitav Lapidot. The S&P 500 track, on average, delivered a 10.7% return since the beginning of the year.
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