Phoenix Holdings and Investment Arm Phoenix Investment House Announce the Purchase of Asset Management Activities with NIS 25 Billion Under Management


Tel Aviv, Israel–(business wire)– Phoenix Holdings (“The Phoenix”, “Group” or “Company”), a leading Israel-based financial, insurance and investment group (TASE: PHOE) and its asset management arm, Phoenix Investment House ( formerly known as the “Excellence Investment House”) today announced that it has entered into an agreement to purchase certain businesses from Psagot Investment House.

Phoenix Investment House CEO Avner Haddad commented: Israeli mutual fund market. Psagot’s clients will join the hundreds of thousands of clients of his Phoenix Investment House, a market leader, and benefit from the Group’s strength, investment management capabilities and the breadth of financial services it offers. ”

The purchased asset management activity represents NIS 25 billion of assets under management, including passive mutual funds, active managed mutual funds and discretionary portfolios. The timing of the transaction and the speed of negotiations reflect Phoenix Investment House’s ability to rapidly consolidate its wealth management activities and provide superior service to hundreds of thousands of individual clients and financial advisors across a broad range of products and services. doing. In addition, it reflects Phoenix’s strength and dynamic ability to identify and seize opportunities arising from changing market trends. Funds purchased from Psagot will be integrated into the existing ‘Kesem’ fund, while discretionary portfolio activities will be integrated into Phoenix Investment House’s portfolio management business.

The acquisition of Psagot’s business is an additional step in the growth strategy of Phoenix Investment House and Phoenix Holdings, expanding their asset management activities inorganically and organically. The Phoenix has a distinct competitive advantage in managing client investments through all investment and retirement solutions in the Israeli market. This acquisition reflects our ability to create significant value through synergies by integrating our wealth management activities into our investment firm. In addition, it supports the Group’s strategy of creating value for its shareholders by building attractive businesses with high returns on equity across the Group’s activities, including acquisitions.

The acquisition further establishes Phoenix Investment House as a market leader, expands its capabilities across its core activities and strengthens its value proposition for clients and investment advisors.

About Phoenix Holdings

Phoenix Holdings is a leading Israel-based financial, insurance and investment group that trades on the Tel Aviv Stock Exchange (TASE: PHOE). The Group’s activities include multi-line insurance, investment and wealth management, credit, and distribution of financial products, demonstrating strong growth and performance throughout the cycle. The Phoenix offers a wide range of activities and solutions across corporate and client segments, serving the majority of Israeli households. With over $100 billion in assets under management, Phoenix has access to Israel’s vibrant and innovative economy through a strong investment portfolio that creates value for both clients and shareholders.



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