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The Marker (a supplement of the infernal HaAretz) writes about Ayalim Funds that lost in 2018 about 9 billion sheqels = 2.5 billion US dollars. It is a lot of money for Israeli savers. Apparently the fund invested in high-yield corporation bonds, like Kardan, Africa Israel, IDB Pituach (I have all of them) and lost over 30%. Well, I still believe that it is paper loss, those companies will pay their debts or renegotiate them in better terms. The 5% loss in sheqel managed funds caught my attention, how that happened? I went to Ayalim website and checked that fund, and it sent me to the TASE website. Seems the page was deleted and the link changed. Not nice. In 2016 Ayalim was the star fund, and that may have gone to their heads.
My portfolio has a positive yield in sheqalim, but I am losing in dollar terms. The reason is the strength of American economy and possibly the imperceptible devaluation of the sheqel vis-à-vis the dollar, possibly because the political uncertainty in Israel. I think that the robots that trade following key-words (trying to evaluate the political-economical sentiment of the country) are to blame, that is, they read the media that is consistently anti-Israel (in the word) and anti-government (in Israel). Reading HaAretz one could think that I am living in Equatorial Guinea and not in prosperous Kever Benjamin City.
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