After nearly two decades of experience and many years in key positions in the Israeli capital market, we realized our dream and established finessa Capital.
finessa Capital incorporates all of our professional insights, experience, skill and precision required in this business, all wrapped in the passion and thoroughness that characterize us.
We have set our sights on functioning at every point in time in the most accurate and correct way in managing our clients' capital, out of a sense of mission.
We are an investment boutique specializing in investment management and investment management of mutual funds* in the local and global market.
Our work is based on fundamental research, and strict risk management.
Our goal – to generate excess returns and add value to our customers over time.
EXPERTISE IN SERVICE
we commit to an uncompromising service experience with a service presence throughout the life of the investment. Transparency is a top value for us, along with professional and accessible dialogue with our experts. We see our customers as partners in the journey and look forward to walking a long way together based on a personal relationship and mutual trust.
OUR VISION
To be a professional-financial home for our clients, walking together in long-term partnership. Our experience professionalism, skill, out-of-the-box thinking and integrity in managing our clients' investment assets, alongside personal service and added value that is personally tailored to each client, illuminate and lead our way.
COMPANY MANAGEMENT
GAT MEGIDDO
CO-FOUNDER, CEO
Has 20 years of experience in the capital market, during which she held a variety of managerial positions
at Psagot Investment House in the field of investments in portfolio management, mutual, provident and
pension funds. Gat led significant changes in the way investments are managed in her position as VP at the investment house and chief investment manager, and as VP of investments at the portfolio management company of Psagot where she also founded and managed the hedge funds activities.
Gat holds a bachelor's degree in business administration specializing in financing and financial risk management, and a master's degree in financial economics from Reichman University. She has a portfolio management license from the Israel Securities Authority since 2007.
RAN ATIAS
CO-FOUNDER, VP OF INVESTMENTS
Has 18 years of experience in investment management and analysis, and is specifically an expert in mutual fund management. In his last position, he acted as the VP of Investments of Forte Investment House and managed the mutual funds with great success, which resulted in outstanding results. Over the years, he managed the fixed income portfolio at Canaf – Clal Insurance Company Ltd. and was a portfolio manager of mutual funds at Harel Group.
Ran has a bachelor's degree in economics and management from the College of Administration and a master's degree in law from Bar Ilan University. He has a portfolio management license from the Israel Securities Authority since 2009.
COMPANY MANAGEMENT
GAT MEGIDDO
CO-FOUNDER, CEO
Has 20 years of experience in the capital market, during which she held a variety of managerial positions at Psagot Investment House in the field of investments in portfolio management, mutual, provident and pension funds. Gat led significant changes in the way investments are managed in her position as VP at the investment house and chief investment manager, and as VP of investments at the portfolio management company of Psagot where she also founded and managed the hedge funds activities.
Gat holds a bachelor's degree in business administration specializing in financing and financial risk management, and a master's degree in financial economics from Reichman University. She has a portfolio management license from the Israel Securities Authority since 2007.
RAN ATIAS
CO-FOUNDER, VP OF INVESTMENTS
Has 18 years of experience in investment management and analysis, and is specifically an expert in mutual fund management. In his last position, he acted as the VP of Investments of Forte Investment House and managed the mutual funds with great success, which resulted in outstanding results. Over the years, he managed the fixed income portfolio at Canaf – Clal Insurance Company Ltd. and was a portfolio manager of mutual funds at Harel Group.
Ran has a bachelor's degree in economics and management from the College of Administration and a master's degree in law from Bar Ilan University. He has a portfolio management license from the Israel Securities Authority since 2009.
EXTERNAL SERVICE PROVIDERS
Legal consulting – Ben Naftali, Erez, Zahavi & Co., Certified Public Accountant – Rabinowitz Even Maman & Co.
Professional Liability Insurance – Leaderim, The Phoenix Insurance Company Ltd.
Fund Manager (Hosting) – Sigma Mutual Funds., Trustee – Ubank Trust Company of the Habeinleumi Group.
OUR INVESTMENT APPROACH
A limited number of funds under an experienced and specialized management team to create focus in investments. For us, initiative is a supreme value, which is supported by many years of experience and direct access to transactions in Israel and abroad
our investment team consists of different investment styles and complementary strengths, which helps foster a diverse investment approach, and encourages creative thinking outside the box, and an attempt to challenge the thesis behind each investment at any time
Measuring and managing the standard deviations of the portfolio at all times. Ensuring diversification and divergence of the investment portfolio, position size limits and the use of hedges, to achieve optimization of the risk/opportunity equation
IN-DEPTH RESEARCH DOWN TO THE SMALLEST DETAILS
We believe in the existence of a professional infrastructure for identifying long-term value through fundamental research.
Our research is the backbone of the investment decision making process, and is essential to achieving excess performance.
Our investment teams have proven experience in analysis, and we work regularly to identify companies and assets that are trading below their economic value. We focus on quality companies that are leaders in their field, where we have in-depth knowledge of the companies' businesses, and the managements that lead the companies, alongside in-depth industry research that allows us to identify the trends and opportunities and generates value over time.
DIRECT ACCESS TO THE ION GROUP RESEARCH DEPARTMENT
The ION Group specializes in managing hedge funds and venture capital funds, and currently manages total assets of approximately 2 billion dollars. The analysis department consists of 10 experienced analysts who perform in-depth fundamental research and work to find opportunities to inundate value in a wide variety of companies in the local and global market. ION has unique expertise in the technology sector, and in Israeli related companies traded abroad.
ESG RISK MANAGEMENT
We place special emphasis on environmental, company and corporate governance risk management in which we invest. In our opinion, this is an integral part of investment management. We believe in the FINANCE FIRST concept and recognize the importance of ongoing identification and detection of ESG risks that exist in certain industries or in specific companies, and are a potential for business disruption.
OUR INVESTMENT SOLUTIONS
We offer investment management services to private, qualified and corporate clients. A portfolio managed at finessa allows for optimal customization to the client's needs, according to their characteristics, the investment horizon, the desired risk level, the investment goals, and changing liquidity requirements with complete transparency. The company is subject to the supervision of the Israel Securities Authority.
The advantages of an investment portfolio managed through mutual funds: tax deferral, ability of the investment manager to respond to changing market conditions and managerial flexibility, savings in commissions (no buying/selling commissions are paid when carrying out transactions in securities in the fund), risk management by building an optimal diversified portfolio and strict management of standard deviations, and transpareny.
MUTUAL FUNDS
We specialize in investment management of mutual funds in a variety of asset classes with an emphasis on fixed income and equity in the local and global market. A mutual fund is an investment tool that allows the client to enjoy dynamic and pro-active investment management, alongside investment diversification, risk management and transparency. In addition, the investor benefits from tax deferral and savings on buying and selling fees for securities. Each fund has an overview policy that is determined in advance and announced to the public. The activity is supervised by the Israel Securities Authority.
*The fund manager is Sigma Mutual Funds Ltd
FINESSA (4D) FLEXIBLE - 5134374
*The goal of the fund:
The investment manager of the fund will strive to achieve a positive return over time while maximizing the opportunity-risk equation inherent in the portfolio¹.
The fund's investment strategy:
Managing a dynamic and diverse investment portfolio in changing market conditions while selectively choosing equity and bonds in Israel and abroad. Making investment decisions is based on in-depth internal fundamental research by the investment manager², using hedging strategies and short positions to manage the standard deviations of the portfolio and maximize¹ the riskreward equation inherent in it.
FINESSA (4B) EQUITY IL - 5134358
*The goal of the fund:
To try to achieve an excess return over the general stock index.
The fund's investment strategy:
An investment portfolio focused on equity in companies traded in Israel with a minimum exposure at any time for at least 75% of the fund's assets. The investment manager focuses on equity in companies whose operations are centered in Israel and thus constitutes direct exposure to the Israeli economy. Making investment decisions is based on fundamental in-depth internal research by the investment manager, while making a selective choice. The investment manager uses hedging strategies and short positions to manage the standard deviations of the portfolio and to maximize¹ the risk- reward equation inherent in it.
FINESSA (0B) BONDS WITHOUT EQUITY IL - 5134366
*The goal of the fund:
To try to achieve an excess return over the general All-Bond index.
The fund's investment strategy:
an investment portfolio specializing in fixed income of all types traded in Israel at investment grade only, with exposure that will not be less than 75% of the fund's assets. Making investment decisions is based on the investment manager's² fundamental in-depth internal research, while ensuring a wide diversification of issuers and investment ratings, management of the indexation base management of the duration. The investment manager advocates active participation in IPOs², and even makes use of hedging strategies and short positions to manage the standard deviations of the portfolio and to maximize¹ the risk-reward equation inherent in it. In general, this investment portfolio is a component that reduces volatility.
FINESSA (1B) 90/10 IL - 5134341
*The goal of the fund:
The investment manager of the fund will strive to achieve an excess return in a combined portfolio whose policy is up to 10% equity and at least 90% fixed income, according to the general stock index and the general All-Bond index respectively.
The fund's investment strategy:
A diversified and dynamic investment portfolio of corporate and government bonds, while ensuring a wide spread of issuers and investment ratings, management of the indexation base, management of the duration and participation in IPOs. In addition, the equity component of the fund generates exposure to selected companies and constitutes exposure to the Israeli economy. The investment manager makes investment decisions in both debt and equity based on internal fundamental research, to maximize¹ the risk-reward equation inherent in the portfolio. In addition, the investment manager uses hedging strategies and short positions to manage the standard deviations of the portfolio.
FINESSA (2B) 80/20 IL - 5134333
*The goal of the fund:
The investment manager of the fund will strive to achieve an excess return in a combined portfolio whose policy is up to 20% equity and at least 80% fixed income, according to the general equity index and the general All-Bond index respectively.
The fund's investment strategy:
A diversified and dynamic investment portfolio of corporate and government bonds, while ensuring a wide spread of issuers and investment ratings, managing the indexation base, managing the average life span and participation in IPOs. In addition, the equity component of the fund generates exposure to the selected companies and constitute exposure to the Israeli economy². The investment manager makes investment decisions in both debt and equity based on fundamental internal research, to maximize¹ the risk-reward equation inherent in the portfolio. In addition, the investment manager use hedging strategies and short positions to manage the standard deviations of the portfolio.
An actively managed equity fund focusing on stocks traded in Israel, providing direct exposure to the Israeli economy.
Investment decisions are driven by rigorous in-house research³, enabling selective asset allocation and pursuit of attractive opportunities. The portfolio is broadly diversified across sectors and issuers. The fund’s risk management may use various hedging strategies, where appropriate, with the aim of optimizing its risk-return profile²,³.
An actively managed equity fund focusing on stocks of companies traded in global markets.
The fund provides exposure to equities across a range of sectors in international markets. Stock selection is based on rigorous in-house research³. Risk management may include the use of advanced hedging strategies, with the aim of maximizing returns while maintaining an optimal risk–return balance².
An actively managed investment fund offering flexible exposure to equities and bonds in local and international markets.
The fund focuses on selective asset selection, using in-depth in-house research³. Risk management is occasionally conducted, among other measures, through hedging strategies, with the aim of maximizing returns while maintaining an optimal risk–return ratio²,³.
An actively managed bond fund focusing on government and investment-grade corporate bonds, with at least 75% exposure to bonds traded in Israel.
Investment decisions are based on internal research, including in-depth debt analysis³, to manage portfolio duration, maintain credit quality, achieve broad issuer diversification, and participate in new issues. Risk management may include the use of hedging strategies to reduce volatility and maximize the risk–return ratio².
An actively managed fund focusing on corporate bonds in the local market, with a minimum exposure of 75% to corporate bonds.
The fund is actively managed, taking advantage of investment opportunities and participating in new issues³. Risk management is based on comprehensive in-house research and professional debt analysis³. Fund management includes the possibility of using hedging strategies, with the aim of maximizing the risk–return ratio².
An actively managed fund offering exposure to rated and non-rated government and corporate bonds, with a minimum exposure of 75% to bonds traded in Israel.
Investment decisions are based on in-house research, including specialized and in-depth debt analysis, to manage duration, credit ratings, and selective issuer choice while maintaining diversification². Active management of the fund allows for taking advantage of investment opportunities, participation in new issues², and the use of hedging strategies, with the aim of maximizing the risk–return ratio³.
MIXED FUNDS
Mixed funds offer exposure to a managed portfolio of government and corporate bonds, with limited equity exposure of up to 10%, 20%, and 30%, respectively. Investment decisions are based on in-depth in-house research³ of the equity component, involving selective stock picking in Israel and abroad. In addition, thorough debt analysis is performed, including management of duration, indexation, credit ratings, broad issuer diversification, and participation in new issues²,³.
"The above is not meant to be a substitute for investment marketing that takes into account the data and the special needs of each person. Finessa Megitas Asset Management Ltd. deals in portfolio management and investment marketing, not investment consulting. Finessa Megitas Asset Management Ltd. is an external investment manager for some of the mutual funds managed by the fund manager Sigma Mutual Funds Ltd. and has an affinity with the mutual funds for which it serves as an external investment manager. This is not meant to be an offer to purchase units in the mutual funds, purchase according to the current prospectus/special reports. This should not be seen as a commitment to surplus yields, and past yields cannot be used to guarantee a similar yield in the future."
This should not be seen as a commitment to achieve any return and past returns do not guarantee a similar return in the future.
1. Based on the assessment of the fund manager and in accordance with economic data and analyses. There is no prospectus obligation to act in the manner described.
The maximum level of exposure to equity from the net value of the fund's assets: 0 – no equity; 1 – up to 10%; 2 – up to 30%; 4 – up to 120%. The maximum degree of exposure to foreign exchange from the net value of the fund's
assets: B- up to 30%; D- up to 120%.
*The above does not constitute a commitment and/or a promise to achieve the fund's goal and/or to achieve a positive return or any return over time.
"Non-investment rated bonds" – corporate bonds and/or bonds issued by a country other than the State of Israel, which is not rated, or is rated lower than (BBB-) or an equivalent rating. "A company with no affinity (relations) to Israel" – a company for which all of the following are true: its bonds are registered for trading in Israel; Its place of incorporation is outside Israel; Its business management takes place outside of Israel and its shares were not offered to the public in Israel; For this matter, a company whose general manager or active chairman is a resident of Israel, and whose majority of the board members are residents of Israel, will be considered a company whose business is conducted in Israel. Where the downgrading of bonds held in the fund to a rating which is lower than investment grade rating or the downgrading of bonds of companies with no affinity to Israel below the AAil rating or an equivalent rating results in a deviation from the fund's investment policy, their continued holding in the fund will not be considered a violation of the prohibition to deviate from the investment policy for ten trading days from the day the violation began (except in the Finessa (0B) Bonds Without Equity IL), in which the fund manager will adjust the fund's investments to the investment policy within three months from the day the violation began). It will be clarified that in accordance with the legal guidelines, a company will not be considered a company without affinity to Israel until the day 07.11.2024 as far as its bonds were registered for trading in Israel on the eve of 07.11.2021."
