Mutual funds raised NIS 7 billion in March, the highest amount since January 2002.
The stock market rally has whetted investors' appetite for risk. Mutual funds and exchange traded funds (ETFs) raised a NIS 17 billion in the first quarter of 2014, most of which was channeled to risk assets - stocks and bonds. Mutual funds raised a net NIS 14 billion in the first quarter, including NIS 5.3 billion in March. Net withdrawals from money market funds totaled NIS 1.8 billion in March.
Debt and equity mutual funds raised NIS 16 billion in the first quarter, and nearly NIS 7 billion in March the biggest monthly amount since January 2002, and equal to half the amount raised in 2013 as a whole.
Mutual funds have NIS 248 billion in assets under management and ETFs have NIS 106 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on April 3, 2014
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