Analyst IMS: 34 percent jump in Q3 revenues bodes well for competition
Good days on the stock exchange are good days for brokers, especially in the era of the implementation of the Bachar Commission's recommendations. Late last week, Analyst Investment Management Services (IMS) Israel was the first investment house to report third quarter results. Judging by its report, the future looks particularly optimistic for other investment houses.
Analyst, under the management of Shmuel Lev and Ehud Shiloni, presented a 34 percent increase in revenues, to NIS 30 million.
The only activity that suffered a decline in revenues was portfolio management, which slid by 11 percent, but the growth in other areas more than compensated for this. Mutual fund revenues totaled NIS 23.7 million - up 15 percent over Q3 in 2005, and total assets held by the fund grew by 7 percent, to NIS 3.215 billion as of September 30.
This figure was even higher by October 31, amounting to NIS 3.48 billion. The company also enjoyed impressive 46 percent growth in provident fund income, for revenues of NIS 10.6 million, bringing total provident fund assets to NIS 2.82 billion. The fastest growing sector at Analyst, however, is its underwriting activities. Meir Delal, of Leumi & Co. Underwriting, is in charge this department and raised revenues from underwriting commissions from NIS 650,000 in Q3 of 2005 several hundred percent, to NIS 4.4 billion in the quarter that just ended.
All told, Analyst's net profits totaled NIS 14.7 million this past quarter - up 26 percent over the same quarter in 2005.