After presenting the worst results for the first six months of the year, Altshuler produced the highest returns in July (4.2% for the overall performance and 7.6% for equities specifically).
The returns of the investment houses reflect the fact that the indices in Israel and the US increased in July. The S&P 500 index increased by 9.1% and the Nasdaq index increased by 12.3%. The indices in Israel increased at a slower pace: the Tel Aviv 35 increased by 6.5%, while the Tel Aviv 125 increased by 6.8%.
The Altshuler Shaham investment house delivered the best return among the equity funds after spending the first six months at the bottom of the performance table, 7.6%, up to half a percent more than all other investment houses. Its overall performance produced a return of 4.2%, beating the rest of competition by almost one percent.
Compared to the other investing firms, Altshuler Shaham undoubtedly benefited from the portfolio’s focus on international investments.
This is probably why the firm has provided its clients with the lowest returns since the year’s commencement in both the overall performance (-7.1%) and the equities (-12.7%). Although, its competition have had a negative return since the start of the year as well.