Provident fund assets up 11.3%

October saw a positive gross nominal yield of 0.33% - up from 0.12% last October.

Provident fund assets grew by 11.3% since the beginning of the year to NIS 232 billion in October, the Finance Ministry said Monday. Net provident and mutual fund cumulation was positive in October, totalling NIS 232 million, up from NIS 179m. in September, and triple the NIS 79m. in positive cumulation registered in October 2004, the ministry said. Similarly, the positive cumulation in the funds totalled NIS 952m. since the beginning of the year, against NIS 357m. for the same period last year. October saw a positive gross nominal yield of 0.33% - up from 0.12% last October, while the cumulative yield for the first 10 months of the year totalled 12.08% - up from 5.12% last year.