Israel’s Largest Institutional Investment Conference; Over $800 Billion Under Management
DC Finance is honored to present The 11th Tel Aviv Annual Institutional Conference, Israel’s largest event in the institutional space.
Over 300 CIOs, members of investment committees, investment and nustro managers from Israel’s leading insurance companies, pension, provident and endowment funds, family offices, banks and investment banks that
collectively manage over $500 Billion under management (not including capital managed by CFOs of large cap companies who attend as well), will join us on March 13th 2019 at the Hilton Tel Aviv.
The Israeli Institutional Investors – facts and figures:
Israeli Institutions boost overseas investing to 22% of all assets; Exchange-traded notes were a favorite vehicle, but there was ‘investment in everything in sight.’ (The Marker Magazine, 2017)
“Israel’s institutional investors have sharply increased their holdings in overseas markets, which now represent 22% of assets under management at the end of last year, up from just 15% three years ago, according to a study by the economic research firm Praedicta and provided to TheMarker.
In shekel terms, the bigger exposure translated into an increase in foreign holdings of 67 billion shekels ($19.1 billion), or 84%, from 80 billion shekels at the end of the third quarter of 2010 to 147 billion shekels. The rise was led by provident funds, pension funds and managers’ insurance policies.”
Israeli institutional investors manage more than 500 billion USD (these figures do not include insurance firms’ notro capital, private investors’ or private firms’ nostro capital) . Until recently, the government either heavily taxed or prohibited investment in foreign instruments while granting generous exemptions for local investment forcing the institutional investors to manage most of their investments within the Israeli capital markets. Recent years witnessed a significant shift in the attitude of the Israeli Commissioner of Capital Markets Insurance & Savings. The Commissioner currently advocates global investment diversification as a risk management strategy. As a result, Israeli institutional investors are starting to seek investment alternatives abroad.
Provident, coalition and pension funds manage 195 Billion USD, Mutual funds 42 Billion USD and insurance firms manage 58 Billion USD, banks manage 40.5 Billion USD in nostro accounts.
The long term savings market in Israel, excluding the banking system, companies and family funds, has more than 860 Billion NIS under management.
The market is centralized and is managed by six dominant managing firms: Migdal (76 Billion NIS), Clal (52 Billion NIS), Harel (38 Billion NIS), Phoenix and Excellence (38 Billion NIS), Menorah (21.5 Billion NIS).
Banks – Nostro: Leumi manages 16 Billion USD, Poalim 7.7 Billion USD, First International 4.4 Billion USD and Mizrahi with 2.2 Billion USD.
There are three investment tools: provident funds with approximately 280 Billion NIS under management, pension funds with approximately 360 Billion under management and life insurance firms with approximately 225 Billion under management. Most of the large institutional bodies offer all of these three investment vehicles.
The local market is opening itself more and more to investments abroad and the government is supporting the diversification of investments abroad very seriously.
The exposure to funds in general and to hedge funds in particular is growing yearly, especially amongst the large institutional bodies. Some invest through FOF and others directly. In insurance firms out of total assets, around 3% is invested in funds and 1.25% in hedge funds, in pension funds 0.75 is invested in funds and 0.2 in hedge funds and provident funds invest 1.5% in funds and 0.5% in hedge funds.
Prof. Manuel Trajtenberg, Member of the Kenesset, former chairman of The Trajtenberg Commity
Prof. Shmuel Hauser, Chairman, Israel Securities Authority (ISA)
Dr. Gil Bafman, Chief Economist, Bank Leumi
Mr. Yossi Beinart, Chief Executive Officer, TASE
Mr. Robby Goldenberg, Senior Vice President, TASE
Mr. Alex Zabezhinsky, Chief Economist, Meitav Dash Investment House
Mr. Zvi Stepak, Chairman, DS-Meitav, Investment House
Prof. Zvi Weiner, Head of Finance Department, School of Business Administration, The Hebrew University of Jerusalem
Mr. Amir Hessel, Executive vice president, Chief Investments Officer, Harel Insurance & Finance
Mr. Yoni Tal, Chief Investment Officer, Menora Mivtachim Insurance
Mr. Gili Gershler, Head of Finance, School of Economics, The College of Management
Mr. Ori Greenfeld, Chief Economist & Strategist, Psagot
Mr. Nir Moroz, CIO, Psagot
Dr. Christopher Mellor, Head of Equity Product Management, Source
Mr. Gili Cohen, former Chief Investment Officer, Excellence Nessuah
Mr. Joel B. Strauss, Partner, Kaplan, Fox & Kilsheimer LLP
Mr. Ronen Matmon, Chief Investments Officer, Excellence Investment House
Mr. Elchanan Rosenheim, CEO, Profimex
Mr. Yaky Yanay, President and COO, Pluristem Therapeutics
Ms. Orit Israeli, Adv, partner, Amit Pollak Matalon
Mr. Meir Levin, Adv. – Senior Advisor to the Chairman and Director of the International Affairs Department, ISA
Ms. Heidi Lawson, Member, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY USA
Mr. Adam L. Sisitsky, Member, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Boston, MA USA
Mr. Chris Brennan, Partner, Addleshaw Goddard, London, UK
Mr. Ariel Berman, Zonal Manager Financial Institutions EMEA – AIG, London, UK
Mr. Tim Stevenson, Director, European Equities, Henderson
Mr. Matthew Michael, Product Director – Emerging Market Debt and Commodities, Schroders
Mr. Keith Kelsall CFA, Infrastructure Investment Director, Aviva Investors
Mr. David A. Rosenfeld, Partner, Robbins, Geller, Rudman & Dowd LLC
Mr. David Forbes-Nixon, Chairman and CEO, Alcentra Global Asset Management
Dr. Christopher Mellor, Head of Equity Product, Source