Psagot – Israel's Largest Investment House
Psagot's Growth over the Years
1963 – Bank Leumi establishes Ofek Securities and Investments – The first bank owned portfolio management company in Israel
1989 – Bank Leumi establishes Psagot Mutual Funds
2003 – Psagot and Ofek unite
2006 - York Capital Management acquires Psagot Groups' activity
2008 - “Gadish” provident fund is acquired from Bank Hapoalim, and Plainfield invests in Psagot
Psagot is the largest investment house in Israel managing assets of 131* BNIS with various investment instruments
2009 - Transfer of Prisma's provident funds to Psagot following which the Markstone Fund (through Phenomenal Holdings) became a shareholder in Psagot Investment House
December 2009 – York Capital Management enters into an agreement to sell its holdings in Psagot to the Apax Fund (transaction yet to be completed)
Psagot is a recognized leader in Israel's financial markets.
Psagot presents prominent and long standing achievements.
Human capital of a trained and dedicated staff with exceptional professional standards, are behind the Group's ongoing success, and contributes to the Group's reputation and respect through out the capital markets.
The Group's consistent and rapid growth leans on proven investment accomplishments, research and advanced information systems, professional service and personal contact with private and institutional investors, as well as with investment advisors at the various banks.
Investment Management at Psagot
Investment management at Psagot is backed by our research department's in-depth and continuance research that is facilitated by external research agencies from Israel and abroad. Prominent returns has placed Psagot at the top of objective economic rankings time and again.
The Economic Scale Advantage at Psagot
Similar to the largest investment bodies in the world, Psagot enjoys an economic scale that, inter alias, includes: ability to significantly investment in economic research, investment in data systems, monitoring and management of risk.
Monitoring and Control
Following the transfer of ownership from Bank Leumi to the York Fund in September 2006, Psagot decided to preserve the monitoring level that was required of it, as a bank subsidiary, and even enhanced its interior and external mechanisms.
Psagot's activities are regulated and monitored by the Securities Authority, The Tel Aviv Stock Exchange and the Finance Ministry's Capital Market's department.
Psagot established an objective and independent Regulation and Compliance department at the beginning of 2008, responsible for risk management, control, credit control and enforcement at the investment house and at all its subsidiaries. The department employs a full time credit supervisor, risk manger and control and enforcement officers.
All investment solutions for all types of investors under one roof
Mutual Funds
Psagot Mutual Funds is the largest and leading mutual funds company in Israel, led by a veteran team of investment managers, analysts and traders specializing in a wide range of disciplines: Bonds, Stocks in Israel and abroad and foreign currency.
variety of mutual funds receive consistently high ratings from objective rating bodies and bank rating systems.
Began operating: 1989
Scope of assets managed (approx.): 31* BNIS
No. of mutual funds: 136
Portfolio management in Israel and abroad
Psagot is the largest portfolio management company in Israel. The company manages portfolios in Israel and abroad for companies and private clients in all Israeli banks in a wide range of investment channels. The portfolios are managed by a veteran team of investment mangers in various departments: Private Clients, Platinum Clients, Institutional companies, International Department.
Began operating: 1963
Scope of assets managed (approx.): 39* BNIS
Provident ,Professional Study and Central Compensation Funds
Psagot Provident Funds manages the largest provident fund in Israel – "Gadish". Psagot Provident Funds specializes in long term investments and presents a wide range of professional study, provident and central compensation funds that enjoy prominent achievements and high ratings. Psagot's strong backing enhances members' confidence.
Began operating: 1998
Scope of assets managed (approx.): 47* BNIS
Exchange Traded Notes
Psagot Exchange Traded Notes is the oldest exchanged traded notes company in Israel. Today, the company manages exchanged traded notes in many fields based on domestic and international stock indices, bond indices, currencies and commodities and a series of unique exchanged traded notes that follow “smart” indices.
Began operating: 2000 (previously named “Tali Exchanged Traded Notes”)
Scope of assets managed (approx.): 7* BNIS
Number of exchanged traded notes: 50
Brokerage and Research Services
The brokerage department gives its institutional clients securities trading services, in Israel and abroad. Psagot’s investments and research system is the largest and of highest quality in Israel, with more than 80 analysts, investment managers and traders – in 7 research departments: Macro and Strategy, Buy side, Sell side, Credit research, International research, Alternative asset research, and a research department for advisors that provide real time information and forecast for everything happening in Israel and abroad.
Hedge funds and structured products
Hedge funds allow unique exposure to domestic and international stocks and bonds markets. The Psagot Group has a unique department responsible for building sophisticated financial instruments and markets hedge funds to institutional clients, companies and wealthy private investors.
The Psagot Group is owned by international investment funds:
York Capital Management (its controlling share holder) and Plainfield.
York Capital Management is one of the largest Private Investment Funds in the United States. The Fund was founded in 1991 and manages an approximate ammount of 16 billion dollars worth of assets. York enjoys a global reach with offices in New York, Washington, London, Moscow, Singapore and Hong Kong. Its clients include western governments, some of the largest pension funds in the world, international corporations and companies, University investment funds and wealthy individuals (H.N.I).
Roy Vermus
CEO of Psagot Investment House
Graduate of the Hebrew University in economics, sociology and anthropology and holds an MBA from Bar Ilan University, and is licensed by the Israel Securities Authority. Has over 14 years of capital market experience. Serves as CEO of Psagot Mutual Funds since 2003 and the CEO of Psagot Investment House since the end of 2006. Served as the chairman of the Mutual Funds Association between 2006-2008. Currently serves as the chairman of Maala’s ranking and index public committee, and as chairman of The Israeli Institute for Corporate Governance’s public committee.