Painful, but less so: the red month of study funds
The table does not lie, and this time our study funds.
January was bad for further education funds, with a decline in all major players in the industry.
"Analyst" lost the least - and at the top of the yields for five years, a reversal: Clal conquered the summit
Roast Greenberg
16/02/2022
Wednesday, 16 February 2022, 14:45 Updated: Thursday, 17 February 2022, 08:32
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Start the year on the left foot;
The Israeli study funds experienced an average negative return of 1.54% - last January, which also led to a decrease in the cumulative returns for 3 and 5 years of the funds examined by Walla!
Money 'and' Maariv Business'.
This is in contrast to January last year, when the study funds opened the year on the right foot, with an average return of about 1.06%, when the capital markets acted on the sign of the gradual release from the corona plague and the increase in the rate of vaccinators.
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Performance of study funds, January 2022 (Photo: Walla !, no)
Although January 2022 also began with price
increases on world stock markets, stubborn inflation, along with expectations of US interest rate hikes and realizations in the shares of technology companies, began to degenerate the markets downwards, and with them the yields of study funds.
In the last two days to the end of January, which helped fix raises fund returns.
Jerome Powell, President of the Fed.
The expectation of interest rate hikes has hit the capital market (Photo: AP)
The one who managed to achieve the highest return among the funds examined in the table, and to be precise - to lose for his colleagues as little as possible - is the investment house 'Analyst', with a negative return of 0.77% - for January 2022.
Noam Rokach, VP of Investments at the Investment House An analyst
told Walla! Money and Maariv Business that January was a negative year for investors, both in stock indices and bonds.
For example, the major US indices S&P 500 and the Nasdaq fell by about 6% and about -10% respectively.
The market in Israel, however, showed a more moderate negative return, such as the TA 125 index, which fell by 1.3%.
Bond market losses were experienced in both government bonds and corporate bonds, with declines of 1.8% and 1.3%. , Respectively.
In January 2022, Analyst benefited from its holding in the Israeli market, which is slightly higher than its competitors, from a relatively short maturity (average life) in the bond component, and from dollar exposure, which helped moderate the decline in the investment portfolio in light of the shekel.
The investment house also enjoys high holdings in the shares of the real estate companies Norstar and Gazit Globe, and enjoys the sharp rises in their shares in light of the entry of Israel Canada into investing in them
. Has been one of the reasons for the realizations experienced over the past few months in high-value, bubble-threshold stocks of some technology companies
.
The fear of rising interest rates as something that suppresses growth is compounded by the uncertainty created by stubborn inflation, and these days another dimension of uncertainty has entered the markets with a story of tension between Russia and Ukraine, projecting on the entire world, also economically.
"Estimates are that in 2022 the markets will not be able to achieve the returns achieved during 2021, as the environment currently looks more challenging in terms of interest rate rises and inflation, even though the global economic environment is expected to be good and rely on continued exit from the epidemic."
Noam Rokach, VP of Investments at Analyst Investment House (Photo: PR)
A reversal at the top of the rankings
The table is signed from below by Altshuler Shaham Investment House, which was one of its leaders for many months, but last January achieved a negative return of 2.15% for its fund members.
The negative return also deprived the investment house of leading the 5-year study fund return table, which it led for years unchallenged, which stood at 42.45% last January.
In its place was the top of the 5-year yield table, the Clal Insurance Company, with a cumulative return of 43.35% for this period, followed immediately by the Phoenix Insurance Company with a return of 42.97%.
Clal was also the one that led the returns of the study funds in January last year, with a return of 1.46%.
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