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TASE announces today a special collaboration with Harel Mutual Funds Ltd., as part of which TASE will exclusively launch 3 new indices for Harel. The indices to be launched are part of the Tel Bond Family: Tel Bond Shekel 5-10, Tel Bond-CPI Linked 5-10 and Tel Bond-CPI Linked Banks and Government Companies.
A year ago, TASE ventured into the customized indices sector by facilitating the launch of new indices exclusively for issuers of ETFs and tracking funds, as part of its commitment to increase competition and innovation in the indices’ development sector, in alignment with global practices based on the most advanced and cutting-edge standards .
Harel Mutual Funds’ AUM totals approx. NIS 70 billion, of which NIS 28 billion are index-tracking products, with 156 tracking funds and ETFs on a wide range of indices. In 2023, Harel was the most dominant issuer in the sector, with NIS 20 billion raised, the largest amount raised to date in the mutual funds sector. The launch of the new customized indices will enable Harel to offer an additional range of passive products on Israeli indices, in general, and on TASE indices in particular.
The creation of customized indices for issuers of tracking products allows TASE to offer the public a greater variety of innovative investment products, as part of its strategy to increase competition in the capital market, in general, and in the indices’ sector, in particular, and enhance liquidity on TASE.
The total AUM tracking TASE indices is approx. NIS 80 billion, while the Israeli indices’ sector manages AUM of approx. NIS 200 billion. Developing the index field and expanding activity in the Israeli capital market through TASE is a distinct interest of Israel in order to strengthen the Israeli economy, especially at this challenging time.
Uri Schur, CEO of Harel Mutual Funds, said: “Harel, a major Israeli financial institution, is collaborating with TASE, Israel's leading index Administrator, to launch exclusive indices. The Tel Bond Banks and Government Companies index and the Tel Bond 5-10 Shekel and CPI Linked indices fill a current vacuum in the market, and we expect a positive response from investors. The launch of tracking products on these indices allows us to provide our customers easy access to a variety of assets and improve their investment portfolios."
Yaniv Pagot, EVP, Head of Trading at TASE, said: “The exclusive launch of the indices with Harel, a prominent financial institution, is a significant step forward for the Israeli capital market, which is eager to bring in new participants, diverse approaches and greater competition. The exclusive launch of new indices with new players in the capital market is part of TASE’s strategy of upgrading the Israeli Indices’ sector to facilitate the offer of a greater and better variety of passive investment products to the public.”
