The business sector more than doubled the amount of publicly raised capital in 2005, the Israel Security Authority disclosed in its annual report. "We saw a dramatic increase in capital raised, additional growth in mutual funds and growth in the number of investment advisers and portfolio managers," said the ISA report. In 2005, 171 public offerings of securities were registered on the stock exchange out of which 51 were initial public offerings, which raised a total of NIS 25.524 billion In comparison, the previous year saw 103 public offerings out of which 31 were initial public offerings that a total of NIS 11.203b. The number of active mutual funds in 2005 increased to 918 generating NIS 125 billion in assets compared with 795 mutual funds in the year before with an asset value of NIS 101b. Furthermore, the ISA in 2005 carried out 5,680 examinations for individuals applying for investment adviser or portfolio manager licenses compared with 3,629 examinations the year before. The ISA added that, in 2006, the number of advisers and portfolio managers was expected to grow by at least 2,000 new positions generated by the new field of financial consultancy that resulted from the Bachar reforms. In an effort to adapt to global standards of securities legislation and regulation, the ISA in 2005 signed corporation agreements with eight foreign securities authorities including the UK, Greece, Holland, Cyprus and Hong Kong, the report further stated. In 2006, the ISA will focus on further strengthening the public and investors' trust in the reports of corporations and corporate boards of directors by improving the control and inspection mechanisms operating in the market and by the ISA's enforcement division.