Israeli mutual funds have raised NIS 3.9 billion since the beginning of January - the highest monthly amount raised since May 2007.
In response to rising share prices and optimism in international markets, Israeli mutual funds raised a net NIS 1.9 billion last week and NIS 3.9 billion since the beginning of January (eight business days) - the highest monthly amount raised since May 2007, Meitav Investment House Ltd. reports.
The amount raised last week was split evenly between equity and debt-based mutual funds and money market funds, and was the largest weekly amount raised since August 2011. Equity and debt raised a net NIS 990 million last week, including NIS 500 million raised by corporation bond-based mutual funds, the largest weekly total since November 2012. Money market funds raised a net NIS 970 million last week and NIS 1.9 billion since January 1.
After raising a net NIS 11 billion in 2012, government bond-based mutual funds saw NIS 30 million in net redemptions last week, the first weekly net redemptions since December 2011.
Published by Globes [online], Israel business news - www.globes-online.com - on January 13, 2013
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