Excellence Investment House aquired mutual fund company Alumot
Posted on Jan 10, 2020 by Ifi Reporter
The Excellence Investment House, managed by Hannah Hollander, is expanding: The company has today signed an agreement to acquire the mutual fund company "Alumot". Total assets managed - NIS 5 billion.
After the acquisition is completed, the acquired companies will be absorbed into the existing companies at Excellence (Funds - Magic and Excellence Portfolios) utilizing the benefits of scale, investment management, marketing and customer service at Excellence.
Alumnae's fund management company manages about NIS 4 billion, of which NIS 1.5 billion is managed by hosting and NIS 2.5 billion is managed directly. Alumnae's portfolio management company manages about NIS 1 billion in assets.
Excellence Investment House currently manages NIS 51.4 billion in assets, and Phoenix manages NIS 200 billion in assets.
Hannah Hollander, CEO of Excellence: "The acquisition of assets is a result of the investment house's growth strategy to expand its money management activities through organic growth in assets and continued growth through mergers and acquisitions. Excellence will continue to provide all investment house clients with a broad and professional service envelope. "
Avner Haddad, CEO of Magic: "Magic entered the managed fund industry two years ago to be a leading and significant player in the segment not only in the size of the managed asset but also in the transparency, simplicity, and professionalism that the fund industry needs, and as the magic of the benchmark industry In general since its inception. We believe that acquiring fund management bursaries will advance the two goals that magic has set itself: both to be a leading player and to advance the values we believe in. "
Excellence Fund's Magic Funds is ranked 3rd in the industry in terms of assets and manages NIS 42 billion in funds. In 2019, Magic Fund raised $ 2.6 billion. Completion of the transaction is subject to regulatory approvals.
Articles Archive
Top Categories
ABOUT IFI TODAY
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum