Record Year for Mutual Funds in 2013 With NIS 55 Billion Added to Managed Assets

Industry gave investors 7.5% average return; local equity funds averaged 22.66%

Israel’s mutual fund industry added 55 billion shekels to its assets under management in 2013, a stunning 35% increase and a record sum for a single year, as the stock and bond markets rallied and investors sought shelter from low interest rates, according to figures released at the end of the year by Meitav-Dash, an investment house that tracks the industry.