Contributions made by regular IDF service personnel are currently held in two funds.
Sources inform ''Globes'' that DS Securities & Investments ltd. (TASE:DSIN) has won a Request For Proposal (RFP) invitation from Hever (the IDF and security forces servicemen and pensioners NGO) for the management of its Tagmulim provident fund. Hever has now completed the selection of the investment houses that will manage its funds, after selecting Menorah Mivtachim Holdings Ltd. (TASE: MORA) three months ago to manage its Sagie fund.
DS's win means that it has maintained its standing as the preferred choice of fund manager for most Hever members. The contributions made by regular IDF service personnel are currently held in two funds - Tagmulim, which manages NIS 4.65 billion in assets and was purchased a year ago from Bank Hapoalim (LSE: BKHD; TASE: POLI), and Sagie, which has NIS 1.13 billion in assets under management and is now managed by Prisma Capital Markets.
Published by Globes [online], Israel business news - www.globes.co.il - on October 25, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007