Migdal Insurance to Launch Savings Policies with Goldman Sachs

Under the agreement, the asset management division of the American bank, which oversees approximately $4 trillion in assets, will directly manage the new tracks. The first option, "Migdal Goldman Sachs General," will combine global equities, bonds, and real assets, while the second, "Migdal Goldman Sachs Stocks," will focus predominantly on equities. Deposits will be made in shekels, exposing savers to foreign exchange risk.

This move follows similar partnerships in the Israeli savings policy market, which is valued at approximately NIS 130 billion. Previous collaborations include Phoenix with BlackRock, Harel with Fidelity, and Clal with State Street. While some of these earlier initiatives have faced challenges and mixed success due to market conditions, Migdal's leadership believes current sentiment favors increased international diversification.