BDI CODE 2014 - Israel's Leading Companies, Law Firms, Accounting Firms, Best Companies To Work For - page 61

Investment Houses
Value of Managed ASSets
BdiCode ranking 2014
Line of Business
Provident Funds, Study Funds,
Pension Funds, Insurance, Central
Severance Pay Funds, Mutual
Funds, ETNs, Investments Portfolio
Management, Brokerage and
Research Services
Established 1963
14 Ahad Ha'Am St., Tel Aviv 6514211
Hagai Badash
Chief Executive Officer
Psagot Investment House Ltd.
Psagot is Israel's largest and leading manager of public assets, and is
controlled by Apax Partners Fund. In 1963, Bank Leumi established Ofek
Securities and Investments, and in 1989 Psagot Mutual Funds. Both firms
were united in 2003 as Psagot Investment House, so that Psagot is ranked
as one of Israel's most experienced and senior investment house. Psagot's
professional, highly trained, dedicated and experienced staff is familiar
with both market drops and market increases. Psagot offers the investing
public various long-term investments, such as provident funds, study funds,
central severance pay and pension funds, as well as short term investments
such as local and foreign investment portfoliomanagement, mutual funds,
ETNs, brokerage and research services. In addition, Psagot has recently
entered into the insurance sector offering life insurance policies to the
general public. Psagot has the largest and best research team today in Israel.
Israel's leading firms, public institutions, institutional investors, foreign
investors and private clients have selected Psagot tomanage their accounts.
Economies of Scale
– The reforms and regulatory changes that have occurred
over the past decade, have significantly transformed the Israeli capital markets.
Professional management of financial assets requires complex work processes
and control mechanisms. The investment house enjoys significant advantages
of scale and has strict quality systems, procedures, supervision and control
mechanisms, supporting investments and services in the Group's companies.
Supervision and Compliance
– Psagot's operations are constantly monitored
objectively by external and internal parties. Internal control is carried out by its
regulation and enforcement department, which is responsible, inter alia, for the
full and effective implementation of all Psagot's internal compliance programs.
In addition, there are other layers of internal control systems, such as internal
audit, risk management and control units that are located in the business units.
External controls are affected by various regulatory bodies, such as the Israel
Securities Authority, the Stock Exchange, the Money Laundering Prohibition
Authority and the Ministry of Finance. In addition, Psagot stresses audits and
surveys by external and objective consultants.
Long-Term Savings
Provident, study, and central severance pay funds
Psagot Provident Funds and Pensions Ltd. is Israel's largest provident fund company.
Psagot specializes in managing long-term investments and offers a wide range
of provident, study, and central severance pay funds, which, over time, have
returned outstanding yields. Among others Psagot manages, "Gadish", Israel's
largest provident fund.
New pension funds
– in January 2011, Psagot introduced a number of new
pension funds that offer various insurance and investment tracks, designed to
allow maximum compatibility between the savings tracks and the nature and
needs of the investor. Psagot believes that it can create competition with the
major pension funds that benefits the entire pension savings market.
– in October 2013 finalized the acquisition of the life insurance
operations of Shibrit Insurance Company Ltd. was completed by Psagot Insurance
Company (P.I.) Ltd.. The acquisition of the insurance operations coupled with the
investment house's economies of scale enable Psagot to offer its clients security,
credibility and stability along with a products basket that meets their needs.
Short-Term Savings
– Mutual funds
– Psagot Mutual Funds is one of Israel's
leading mutual fund companies which have returned outstanding performance
over time^. Psagot offers about 150 mutual funds in a variety of tracks that are
suitable for different types of investors.
– Psagot Exchange Traded Notes is the most senior company in Israel's ETN
market, with a broad offering of 160 ETNs and ETNs that track various indices
in Israel and abroad. The company operates a modern trading room, which has
a team of skilled professional dealers.
Portfolio management in Israel and abroad
– Psagot securities is Israel's
largest portfolio management company that manages investment portfolios
in Israel and abroad, for companies, institutions and private investors, using
various investment horizons.
Brokerage and Research Services
–Institutional and private investors of Psagot's
Brokerage Department benefit from professional trading services in securities
worldwide, and also from the advantage of Psagot's service and large scale
activity. Furthermore clients benefit from an innovative and advanced trading
room equipped with updated trading, communication and data systems that
can be found in global leading trading rooms.
A large and high-quality research set up
– Psagot believes that informed
and responsible management of clients' assets must be based on significant and
ongoing investment in research. Psagots' investment and research network has
six specialized research units, and some 80 analysts, investment managers and
traders who are licensed by the Israel Securities Authority - who are involved on
a daily basis in analyzing the markets, enabling Psagot to continue to head the
economic ratings. At the same time, Psagot regularly complements its research
activities using leading research bodies, in Israel and abroad.
Institutional Involvement
– Psagot is the first investment house in Israel
to establish a special department to deal with institutional involvement. The
department strives to ensure and maximize the customers' rights throughout
the entire period of investment.
In early 2012, Psagot formulated the principles that enshrine its commitment to
the investing public and the measures of institutional involvement required of
it in various circumstances, in its "Institutional Investor Activism"covenant. This
covenant, which was made public and is available in full on Psagot's website,
details rules of conduct that are transparent, clear and known in advance.
Community and Corporate Responsibility
– Community responsibility and
involvement are an integral part of the investment house's business and strategic
work plan. Psagot is committed to the community acting to advance values of
involvement in the community by contributing and by active volunteering of
its workers.
Ma'alah Rating
– 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.
Psagot's knowledge center for financial education
– The most important
financial tool is knowledge. Psagot Investment House, the largest manager of
public monies in Israel provides its 1.3 million clients and the public access to
Psagot's knowledge center for financial education. The center furnishes various
innovative and advanced tools in financial and economic areas, in an effort to assist
in the management of monies and minimize common financial investment errors.
Mutual funds' manager – Psagot Mutual Funds Ltd.
^ The above should not be seen as a commitment to achieve certain returns.
The aforementioned does not constitute investment marketing/advice and/or pension advice/marketing
and/or a substitute for advice/marketing as said and/or tax advice taking into account the particulars and
needs of each individual and does not constitute an offer to purchase units in mutual funds or ETNs.
Purchase of units and/or ETNs will only be performed by means of a valid prospectus and immediate
reports. Past returns or ratings of the fund do not attest to similar returns or ratings in the future.
Psagot Securities Ltd. – an investment manager and stock exchange member – and Psagot Investment
House Ltd. – an investment marketer (hereafter
the companies
) engage in investment marketing and
not investment advice and belong to the Psagot Group. The companies are affiliated to each other and to
the following financial assets : mutual funds managed by Psagot Mutual Funds Ltd./ provident funds and
pension funds managed by Psagot Provident Funds & Pension Ltd./ provident funds whose investments
are managed by Psagot Securities Ltd./ financial assets managed by Psagot Exchange Traded Notes Ltd.,
Psagot Binding Certificates Foreign Currency Ltd. Psagot Exchange Traded Notes Indexes Ltd., 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 over other
financial assets. Psagot Provident Funds and Pension Ltd. engage in pension marketing (and not pension
consultancy) and is affiliated to pension products under its management.
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