This month, the TA-125 was up by +2.1 % while the S&P500 lost -2.8%. The Fund ended the month with a positive return of +0.4% for the AUD class and +0.5% for the USD class. The two main contributing sectors were Semiconductors, with our main holding in Priortech (in which we hold 5.4%), and the Information Technology sector, with our holding in Telsys (in which we hold 4.4%).
There is a significant geopolitical change on the macro front, which we believe will have a major impact on Israel’s economic growth. Israel has recently signed peace treaties with many of the Gulf States: the United Arab Emirates (Dubai and Abu Dhabi), Bahrain, Sudan and we expect in the near future with Oman, Morocco and Saudi Arabia. Like the discovery of the natural gas reservoirs (7 years ago) that opened up the possibility of energy independence, cooperation with the Arab Gulf States is opening up economic opportunities for Israel that are hard to even quantify today in numbers.
We invite you to join us for a webinar on Investing in Israeli Technologies
||Doral Group Renewable Energy R||Israel||Renewable Electricity|
||FIBI Bank Holding||Israel||Diversified Banks|
||Ilex Medical||Israel||Health Care Distributors|
||Priortech Ltd||Israel||Electronic Components|
|1 Month||1 Year||2 Years P.A.||SINCE INCEPTION|
|Fund Class A (AUD)||0.4%||3.9%||12.0%||9.0%|
|Fund Class B (USD)||0.5%||8.0%||13.4%||9.9%|
|Tel Aviv Stock
Exchange 125 Index
|Tel Aviv Stock
Exchange Small And
Medium Cap 60 Index
|VOLATILITY3||11.1%||NUMBER OF STOCKS||32|
|BETA (USING DAILY RETURNS)4||0.56||MAXIMUM DRAW DOWN||-13.6%|
|VOLATILITY3||10.4%||NUMBER OF STOCKS||32|
|BETA (USING DAILY RETURNS)4||0.51||MAXIMUM DRAW DOWN||-11.4%|
Founder & CEO
Founder & Managing Partner
The Pengana Alpha Israel Fund invests in listed Israeli companies that produce cutting edge – both high and low tech – technologies. These Israeli listed companies have developed solid intellectual property coupled with strong global distribution.
The Fund offers Australian investors diversification within global equity exposure to a unique and promising market that is very much skewed to industries and technologies that are either limited, or do not exist, in the Australian market place, such as: the semiconductor industry, solar and water treatment technology, aerospace and electronic defence industries, and cyber security technologies.
|International Fund||High Conviction Property Securities Fund||Australian Equities Fund||International Ethical Fund|
|Global Small Companies Fund||WHEB Sustainable Impact Fund||Emerging Companies Fund||High Conviction Equities Fund|
|Pengana International Equities Limited (ASX: PIA)||International Fund - Ethical Opportunity||Private Equity Trust (ASX: PE1)||Alpha Israel Fund|
1. Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Class A is shown in $AUD, Class B is shown in $USD, Benchmarks 1&2 are $ILS. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
2. Inception 1st January 2018.
3. Annualised Standard Deviation since inception
4. Relative to Tel Aviv Stock Exchange 125 Index
Benchmark 1: Tel Aviv Stock Exchange 125 Index
Benchmark 2: Tel Aviv Stock Exchange Small And Medium Cap 60 Index
Please note: This fund is only open to Wholesale Investors.