Meitav Leads Israel's Pension Market Growth in First Half of 2026 Amid Major Fund Shifts
In the first half of 2026, Meitav Investment House, managed by Ilan Raviv, emerged as the dominant player in Israel's pension and provident fund market. Having become the largest provident fund entity in Israel by the end of 2025, Meitav accelerated its growth, attracting an average of 2.3 billion shekels monthly from competitors since December. In June alone, it maintained a high inflow of 2.28 billion shekels, totaling nearly 15 billion shekels gained from rivals since the start of the year, despite holding a mid-table position in returns with an upward trend.
Harel Insurance ranked second in June and year-to-date, drawing about 1.5 billion shekels in June and 6.3 billion shekels overall. This success is attributed mainly to its investment provident funds, which lead in 3- and 5-year returns, compensating for weaker long-term returns in training funds. Clal Insurance followed in June, benefiting from a local stock market surge, leading returns over the past year and longer periods. Clal reversed last year's outflows, securing third place in June with over 1.2 billion shekels and fifth place year-to-date with nearly 3.4 billion shekels in net inflows.
Migdal Insurance stood fourth, attracting 1.04 billion shekels in June and 3.57 billion shekels since January. Phoenix Insurance ranked third year-to-date with 4.1 billion shekels gained but saw a sharp slowdown in June inflows to 163 million shekels due to relatively weak returns.
On the losing side, Altshuler Shaham led outflows with 3.4 billion shekels lost in June alone, despite topping returns that month, and a staggering 18.7 billion shekels lost since January, driven by weak performance in recent years. Yelin Lapidot also faced heavy outflows, losing 1.85 billion shekels in June, the worst month in its history for fund transfers, and 9.2 billion shekels year-to-date. Analyst Investment House joined the outflow trend in June with 227 million shekels lost but maintains a positive net inflow of 351 million shekels since the start of the year.
These shifts highlight a dynamic pension market landscape in Israel, with investors favoring firms showing stronger returns and growth potential, while others struggle with sustained outflows despite occasional performance spikes.
