The Israeli investment consultation market is about to be opened to foreign funds in order to enable Israeli customers to invest more easily in foreign-managed funds, in addition to Israeli mutual funds. Israeli investment houses are expanding the range of their products and announcing on occasion that they are cooperating with a foreign investment manager. Altshuler Shaham Ltd. today announced that it had signed a cooperation agreement with BlackRock Investment Management, a major investment firm. The Israeli investment house will market BlackRock's products and iShare, its passive investment management label, "exclusively to investment consultants at banks and their Israeli customers."
Altshuler Shaham will represent and market BlackRock's exchange traded fund (ETF) label. As far as is known, the agreement between the parties is not limited in time, but is contingent on meeting targets. Altshuler Shaham, managed by Ran Shaham and Gilad Altshuler, said today, "Cooperation will make it possible to diversify Israeli investors' investment portfolios with products that facilitate broader and higher quality exposure to global markets than has been hitherto available to Israeli investors." Alex Pollak will manage BlackRock's activity in Israel.
Kalman Shaham and Gilad Altshuler founded Altshuler Shaham in 1990. The firm manages public money and mutual, provident, advanced training, and pension funds, and also holds hedge funds. Altshuler Shaham currently manages NIS 80 billion in assets, putting it in the forefront of Israel's investment houses and institutions, and enjoys a sterling reputation.
BlackRock is the world's largest money management firm, with $5.5 trillion in managed assets, among other things as a result of its dominant position in index-tracking passive investments, such as ETFs.
Published by Globes [online], Israel Business News - www.globes-online.com - on September 13, 2017
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