Psagot, controlled by Apax Partners, is Israel’s largest and leading investment house. Bank Leumi founded Ofek Securities Investments in 1963 and Psagot Mutual Funds in 1989, and united them as Psagot in 2003, becoming one of Israel’s oldest investment houses. Psagot’s skilled, dedicated and experienced staff is familiar with the market. Psagot offers long-term and short-term investment solutions. Israel’s leading companies, institutional investors, public bodies, foreign investors and private customers have chosen Psagot to manage their assets.
Significant Advantage of Scale
Regulatory reforms have changed Israel’s capital market beyond recognition. Financial assets management requires complex work procedures, mechanisms and supervision. The investment house enjoys significant advantages of scale and has strict quality systems, procedures, supervision and control mechanisms, supporting all investments and services in the Group’s companies.
Supervision of Operations
Psagot’s operations are supervised objectively by internal and external bodies. Internal supervision is conducted by a regulatory and enforcement department applying fully effective internal enforcement programs adopted by Psagot, and implemented by a range of operations. There are other internal oversights such as internal auditing, risk management, and a control unit in the business units. External supervision is conducted by regulators such as the Securities Authority, TASE, Money Laundering Prohibition Authority, and The Ministry of Finance. The company also strives to conduct audits and surveys by external and objective consultants. ETN and mutual fund activity is supervised by trustees appointed by law.
Long Term Savings
Provident, Study and Central Severance Pay Funds - Psagot Provident and Pension Fund Management is Israel’s largest provident company. Psagot manages Gadish, Israel’s largest provident fund. Psagot specializes in long term investment management and offers a wide range of provident, study and central severance pay funds that bring top performance and high ratings.
New Pension Funds - In 2011, Psagot launched new pension funds with insurance tracks and investment options to allow maximum fit to member’s needs. Psagot believes that it can create competition with the major pension funds that benefits the pension savings market.
Short Term Savings
Investment Portfolio Management in Israel and Abroad - Israel’s largest company, managing investment portfolios on behalf of companies, institutional bodies and private investors in investment options in Israel and abroad. Psagot is the largest investment portfolio management company for sectorial provident funds.
Mutual Funds - Psagot, Israel’s leading mutual funds company offers mutual funds that invest in a wide range of investment tracks and demonstrate long term strong performance^custom-tailored to meet needs of diverse investors.
Exchange Traded Notes (ETNs) - Israel’s oldest ETN company manages 146 ETNs and liability certificates that track a range of Israeli and global indices. The company runs a leading edge trading room with skilled traders and is Israel’s third largest ETN company.
Brokerage and Research Services - Psagot’s brokerage department provides research and security trading services in Israel and overseas to institutional clients. Psagot provides brokerage services to private clients.
Major Qualified Research Unit - Psagot believes that intelligent, responsible client asset management must be based on substantive investment in research. Psagot has Israel’s largest investments and research unit including six specialist research units with 80 analysts, investment managers and Israel Securities Authority licensed traders. Analysts are engaged in daily independent analysis of high standards enabling Psagot to reach top economic ratings. Psagot is also assisted by leading Israeli and overseas research bodies.
Well Placed At The Top
Psagot won first place for large mutual fund managers* in the Globes-Maalot ranking# published in May 2013. Psagot won first place in 5 out of 8 categories which were ranked#.
Client, Community and Environmental Responsibility
Psagot is Israel’s only investment house with a department devoted to institutional involvement, which implements clear principles to ensure and maximize customer’s rights. In 2012, Psagot formulated principles in an official document entitled “Psagot’s Covenant for institutional Involvement”. The Covenant, published fully on the company’s website, clearly defines transparent behavior. Psagot and its employees strictly fulfill all legal and regulatory requirements and are subject to the company’s code of ethics. Psagot aims to contribute resources to promote worthy social goals.
As of 10.6.13, Psagot received the Maala Rating for corporate business responsibility. For a fifth consecutive year, Psagot received the platinum rating, the highest category.
*Of the 5 largest managers managing over NIS 10 billion #according to the Globes-Maalot ranking for mutual fund managers published in an article by Globes on 2.5.13 based on data for the last funds rankings as of March 2013. The ranking of fund managers is calculated based on the ranking marks of funds (this ranking is subject to payment) so that the size of the fund is an influence, and according to parameters of quality. The categories are sorted by the person calculating the ranking and the ranking is based on the fund’s performance by a period of up to 5 years according to each fund. ^The above should not be seen as a commitment by Psagot to achieve particular returns. The aforementioned does not constitute investment marketing/ consultation and/or consultation/marketing and/or a substitute for consultation/marketing as said and/or tax consultation taking into account the data and needs of every person and is not an offer to purchase funds of units in ETNs or securities. Purchase of units in funds/ETNs will only be by a valid prospectus and immediate reports. This should not be seen as a commitment by Psagot to achieve particular returns. Psagot Securities Ltd. – investment manager and stock exchange member – and Psagot Investment House Ltd. (hereafter the companies) – marketing investment marketer (engage in investment marketing and not investment consultation) and belonging to the Psagot Group. The companies are affiliated to managed financial assets by the second company and by the following companies : mutual funds managed by Psagot Mutual Funds Ltd./for provident funds and pension funds managed by Psagot Provident Funds & Pensions Ltd./for provident funds whose investments are managed by Psagot Securities Ltd./for financial assets managed by Psagot ETN Ltd., Psagot Binding Certificates Foreign Currency Ltd. Psagot ETN Indices Ltd. and Psagot Indexes Products Ltd., Psagot Currency Products Ltd., Psagot Quarterly Ltd., Psagot Currencies Ltd. and Psagot Negotiable Dollar Obligation Ltd. The companies may prefer said financial assets rather than other financial assets. Psagot Provident Funds and Pensions Ltd. is engaged in marketing pensions (and not pension consultancy) nor affiliated to its managed pension products.