Israel is getting serious about opening up the high-tech market to domestic investors

by Dramelin 6:30 AM 0 comments

Israeli pension funds are expected to get a waiver that will allow them to invest in four new high-tech funds for which the government issued new tenders this week.
The new mutual funds, issued on Sunday and meant for both private and institutional investors, are to be traded on the Tel Aviv Stock Exchange, TASE.
They come in response to the high ratio of foreign-to-domestic investment in the country`s burgeoning start-up scene.
"It`s our understanding that the Capital Markets Authority will give waivers for pension funds to invest in these funds even though they charge management fees," Avi Laor, deputy manager at the mutual funds supervision unit at the Israel Securities Authority (ISA), told CNBC.
Under Israeli regulations, pension funds are not normally allowed to invest in funds that charge management fees, he explained.