Investment house Meitav Dash earned in the 3rd Q: NIS 25 million

Investment house Meitav Dash concluded the third quarter of 2018 with a net profit of NIS 25 million, an increase of 66.7% compared to NIS 15 million in the previous quarter and a decrease of 26.5% compared to NIS 34 million in the corresponding quarter last year.
The decrease is explained by the profit recorded as a result of the revaluation of the shares of the Tel Aviv Stock Exchange in the corresponding quarter. Excluding this factor, there was an increase of 15.7% in net profit compared to the corresponding quarter last year.
Operating expenses for the third quarter of 2018 amounted to NIS 175 million. This is an increase of 6.7% compared to the same period in 2017, and an increase of 3.6% compared with the previous quarter.
Discount Mutual Funds is the largest company in the industry, with managed assets worth about NIS 32.3 billion at the end of the third quarter of 2018. At the date of publication of the financial statements, the best managed assets of the mutual funds segment crossed the NIS 33 billion mark, Since the beginning of the year, the fund has raised more than NIS 3.5 billion, of which over NIS 2 billion is in traditional funds, while the funds industry is in redemptions.