Mutuals Get Only NIS 650m Out of NIS 8 Billion Freed From Makams Wed

Psagot raised the most: NIS 185 million, followed by Prisma with NIS 130 million and Harel Pia

The Series 617 of makams (short-term Bank of Israel certificates) matured on Wednesday, freeing NIS 8 billion. Ahead of the gigantic redemption, mutual funds had jostled for room in the business press, running full-page ads in the hope of attracting your attention and liquid assets.

However, as of yesterday at least, all they got was NIS 650 million of that money, according to figures TheMarker has obtained.

The leader of the pack was Psagot, which raised NIS 185 million.

Second came Prisma with  NIS 130 million and then Harel Pia with NIS 100 million.

In fourth place was Ilanot Batucha, which brought in NIS 75 million, followed by Migdal in fifth place with NIS 55 million.

Excellence-Nessuah raised NIS 50 million and DS got NIS 45 million. Clal Finance had to settle for a mere NIS 10 million.

The big winners yesterday were ETFs (exchange traded funds). Turnover in various certificates based on the Tel-Bond, which tracks the 20 biggest corporate bonds listed on the Tel Aviv Stock Exchange  soared to NIS 115 million.

Clal Finance is one that issued Tel-Bond certificates: turnover in that security mounted to NIS 57 million yesterday. KSM has one too and saw turnover of NIS 32 million, and turnover in a Tachlit instrument reached NIS 28 million.