A Special Collaboration Between TASE and Yelin Lapidot Investment House for the Launch of a Series of Indices Under Exclusivity Contract.
TASE Will Launch New Indices Exclusively for the Issuers of ETFs and Tracking Funds.
The new exclusive indices will offer the public a greater variety of investment products and enhance liquidity on TASE.
TEL AVIV, Israel, Jan. 11, 2023 /PRNewswire/ — The Tel Aviv Stock Exchange (TASE: TASE) announces today a special collaboration with Yelin Lapidot Investment House, as part of which TASE will exclusively launch new indices for the investment house, after receiving the Israel Securities Authority’s approval last month for the exclusive launch of indices for the issuers of tracking funds. With this move, TASE effectively realizes its commitment to encourage competition and innovation in the indices’ development sector, in alignment with global practices based on the most advanced and cutting-edge standards.
Yelin Lapidot is an investment management leader. This groundbreaking collaboration holds many benefits for the Israeli capital market, as the launch of the new dedicated indices will enable the Investment House to offer a passive activity that tracks Israeli indices, in general, and TASE’s indices, in particular. Yelin Lapidot’s cutting-edge research and investment management capabilities are invaluable to the development of the new TASE indices.
TASE’s venture into the customized indices’ sector will allow it to develop new innovative indices, both local and foreign, for the issuers of tracking products, and offer to the public a greater variety of affordable innovative investment products in local currency. This move will also increase the competition in the capital market and enhance liquidity on TASE.
TASE intends to dedicate substantial resources to the advancement of the Israeli indices’ sector over the coming years, including through investment in infrastructure and human capital and the acquisition of relevant databases, which will position this activity on par with global standards.
The total AUM tracking TASE indices is approx. NIS 78 billion, while the Israeli indices’ sector manages AUM of approx. NIS 155.6 billion. The volume of assets exclusively tracking Israeli indices is estimated at NIS 12 billion, managed in over 250 different passive funds. Developing the indices field, with an emphasis on expanding activity in the Israeli capital market through TASE, is a distinct interest of Israel in order to strengthen the Israeli economy.
Asaf Eldar, CEO of Yelin Lapidot Mutual Funds, said: “Yelin Lapidot values the collaboration with TASE as a vote of confidence in the professionalism and capabilities of the Investment House. A year ago, the mutual funds’ company initiated the launch of a series of innovative tracking funds, and this collaboration will expand the range of products and allow exposure to multiple innovative local indices. We are delighted to take part in enriching the variety of local indices, for the benefit of all investors in Israel.”
Yaniv Pagot, EVP, Head of Trading at TASE, said: “The exclusive launch of the indices is a significant step forward for the Israeli capital market, which is eager to bring in new participants, diverse approaches and greater competition on the backdrop of the rise in merger activity and the increasing concentration of financial institutions. The exclusive creation of indices, hand-in-hand with Yelin Lapidot, a new player in the passive funds’ sector with a proven track record in investment management and research, kicks off TASE’s strategy of upgrading the Israeli Indices’ sector to facilitate the offer of a greater and better variety of passive investment products.”
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SOURCE The Tel Aviv Stock Exchange Ltd.