The doors have been opened in Israel to EU Funds and European asset managers will allowed to sell UCITS funds in Israel for the first time.
In recent developments, restrictions that had previously prevented UCITS funds being sold directly to investors based in Israel have been lifted due to an amendment to a law governing the country’s investment fund market. US-domiciled funds will also now have permission to distribute in Israel.
Part of the requirements to allow managers to distribute funds in Israel, are that the fund must operate under the UCITS directive or the US Investment Company Act of 1940 and have a net asset value of at least $50m (€38m). No fewer than five funds must be managed by the fund manager, the units of which must be offered to the public for at least five years.
Although under the amended Joint Investment Trust Law, prospectuses in Hebrew are no longer required to accompany foreign funds, it may be prudent for asset managers to localise their documentation for this new and exciting market.
In this respect Prisma could offer translation and typesetting services for a complete range of fund documentation in Hebrew. Our experienced financial translators and typesetting team will ensure all your documentation is of the highest quality and ready for exactly when you need it.
Thinking of distributing in Israel? For further information on our related services, please contact us at prisma@prisma.lu