
The Pengana Alpha Israel Fund invests principally in listed Israeli companies that produce cutting edge – both high and low tech – technologies. These Israeli companies have developed solid intellectual property coupled with strong global distribution.
The Fund offers Australian Wholesale investors diversification into a unique and promising market that is very much skewed to industries and technology sectors which are either limited, or do not exist, in the Australian market place, such as the semiconductor industry, solar and water treatment technology, aerospace and electronic defence industries, and cybersecurity technologies.
The Pengana Israel Alpha Fund is managed by Alpha LTI, a boutique Israel manager established in 2005 with an impressive track record.
Alpha typically focuses on
THE ISRAEL OPPORTUNITY
A GLOBAL LEADER IN INNOVATION & TECHNOLOGY
- Israel ranks #1 in the world in expenditure on research and development as a percentage of GDP.
- Israel contains the largest number of NASDAQ-listed companies in the world outside of the US and China, despite having a population of less than 9 million people.
- Largest number of start-ups per capita in the world – around 1 start-up for every 1400 people.
- 450+ Listed Equity Companies, 64 cross-listed abroad
- 9 Universities, 12 Nobel Laureates
- More than 270 multinational corporations (MNCs) have established more than 320 advanced R&D facilities throughout the country to take advantage of Israeli innovation. The list includes the likes of: Google, Apple, Facebook, Microsoft, Intel, Yahoo!, Motorola, HP, Siemens, GE, GM, IBM and Cisco.
- A number of high-profile exits in recent years – Waze (sold to Google for $13 billion), Mobileye (sold to Intel for $15.3bn), SodaStream (sold to PepsiCo for $3.4bn), etc.
- Knowledge based economy with highest concentration of PhD’s, engineers & patents filled per capita
The Pengana Alpha Israel Fund is uniquely positioned to capture the investment opportunities in some of Israel’s most attractive sectors with a locally based investment team in possession of an established reputation and deep industry ties.
PERFORMANCE
- CHART
- TABLE
- UNIT PRICES
Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions. Index returns shown are in ILS (Israeli Shekel). No allowance has been made for buy/sell spreads. Please refer to the PDS for information regarding risks. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
Inception date: 1 January 2018
Alpha Israel Fund Class A (AUD)
PERFORMANCE AT 31 Aug 2023
1 MTH | 1 YEAR | 2 YEARS P.A. | 3 YEARS P.A. | SINCE INCEPTION P.A. | |
---|---|---|---|---|---|
Alpha Israel Fund Class A | -0.9% | -1.2% | 5.1% | 5.4% | 7.2% |
Tel Aviv Stock Exchange 125 Index | -0.8% | -9.6% | 1.5% | 9.6% | 5.8% |
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Alpha Israel Fund Class B (USD)
PERFORMANCE AT 31 Aug 2023
1 MTH | 1 YEAR | 2 YEARS P.A. | 3 YEARS P.A. | SINCE INCEPTION P.A. | |
---|---|---|---|---|---|
Alpha Israel Fund Class B | -0.2% | 1% | 6.4% | 6.5% | 8.4% |
Tel Aviv Stock Exchange 125 Index | -0.8% | -9.6% | 1.5% | 9.6% | 5.8% |
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Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions. Index returns shown are in ILS (Israeli Shekel). No allowance has been made for buy/sell spreads. Please refer to the PDS for information regarding risks. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
Inception date: 1 January 2018
Class A (AUD)
DATE | APPLICATION | REDEMPTION | DISTRIBUTIONS |
---|---|---|---|
31/08/2023 | 1.0425 | 1.0373 | – |
31/07/2023 | 1.0524 | 1.0472 | – |
30/06/2023 | 1.0056 | 1.0006 | 0.0155 |
31/05/2023 | 0.9731 | 0.9683 | – |
30/04/2023 | 0.9721 | 0.9673 | – |
31/03/2023 | 0.9380 | 0.9334 | – |
28/02/2023 | 0.9296 | 0.9250 | – |
31/01/2023 | 0.9729 | 0.9681 | – |
31/12/2022 | 0.9535 | 0.9487 | – |
30/11/2022 | 1.0089 | 1.0039 | – |
31/10/2022 | 1.0161 | 1.0111 | – |
30/09/2022 | 1.0050 | 1.0000 | – |
31/08/2022 | 1.0720 | 1.0666 | – |
31/07/2022 | 1.0419 | 1.0367 | – |
30/06/2022 | 1.1651 | 1.1593 | 0.1599 |
31/05/2022 | 1.1999 | 1.1939 | – |
30/04/2022 | 1.2628 | 1.2566 | – |
31/03/2022 | 1.2788 | 1.2724 | – |
28/02/2022 | 1.2634 | 1.2570 | – |
31/01/2022 | 1.2453 | 1.2391 | – |
31/12/2021 | 1.2316 | 1.2254 | – |
30/11/2021 | 1.1747 | 1.1689 | – |
31/10/2021 | 1.1653 | 1.1595 | – |
30/09/2021 | 1.1388 | 1.1332 | – |
31/08/2021 | 1.1116 | 1.1060 | – |
31/07/2021 | 1.1316 | 1.1260 | – |
30/06/2021 | 1.3079 | 1.3013 | 0.1216 |
31/05/2021 | 1.3488 | 1.3420 | – |
30/04/2021 | 1.3489 | 1.3421 | – |
31/03/2021 | 1.2859 | 1.2795 | – |
28/02/2021 | 1.2971 | 1.2907 | – |
31/01/2021 | 1.3092 | 1.3026 | – |
31/12/2020 | 1.2859 | 1.2795 | – |
30/11/2020 | 1.2224 | 1.2164 | – |
31/10/2020 | 1.1630 | 1.1572 | – |
30/09/2020 | 1.1584 | 1.1526 | – |
31/08/2020 | 1.1564 | 1.1506 | – |
31/07/2020 | 1.0835 | 1.0781 | – |
30/06/2020 | 1.1534 | 1.1476 | 0.1016 |
31/05/2020 | 1.1905 | 1.1845 | – |
30/04/2020 | 1.1902 | 1.1842 | – |
31/03/2020 | 1.1331 | 1.1275 | – |
29/02/2020 | 1.2892 | 1.2828 | – |
31/01/2020 | 1.3111 | 1.3045 | – |
31/12/2019 | 1.2556 | 1.2494 | – |
30/11/2019 | 1.2542 | 1.2480 | – |
31/10/2019 | 1.2324 | 1.2262 | – |
30/09/2019 | 1.2123 | 1.2063 | – |
31/08/2019 | 1.1729 | 1.1671 | – |
31/07/2019 | 1.1345 | 1.1289 | – |
30/06/2019 | 1.1205 | 1.1149 | – |
31/05/2019 | 1.0940 | 1.0886 | – |
30/04/2019 | 1.1128 | 1.1072 | – |
31/03/2019 | 1.0725 | 1.0671 | – |
28/02/2019 | 1.0648 | 1.0594 | – |
31/01/2019 | 1.0245 | 1.0193 | – |
31/12/2018 | 0.9882 | 0.9832 | – |
30/11/2018 | 1.0175 | 1.0125 | – |
31/10/2018 | 1.0202 | 1.0152 | – |
30/09/2018 | 1.0437 | 1.0385 | – |
31/08/2018 | 1.0490 | 1.0438 | – |
31/07/2018 | 1.0069 | 1.0019 | – |
30/06/2018 | 1.0015 | 0.9965 | – |
31/05/2018 | 1.0033 | 0.9983 | – |
30/04/2018 | 0.9890 | 0.9840 | – |
31/03/2018 | 0.9887 | 0.9837 | – |
28/02/2018 | 1.0021 | 0.9971 | – |
31/01/2018 | 0.9967 | 0.9917 | – |
31/12/2017 | 1.0000 | 0.9975 | – |
18/12/2017 | 1.0000 | 0.0000 | – |
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Class B (USD)
DATE | APPLICATION | REDEMPTION | DISTRIBUTIONS |
---|---|---|---|
31/08/2023 | 1.0255 | 1.0203 | – |
31/07/2023 | 1.0277 | 1.0225 | – |
30/06/2023 | 1.0325 | 1.0273 | 0.0674 |
31/05/2023 | 1.0025 | 0.9975 | – |
30/04/2023 | 0.9906 | 0.9856 | – |
31/03/2023 | 0.9544 | 0.9496 | – |
28/02/2023 | 0.9447 | 0.9399 | – |
31/01/2023 | 0.9865 | 0.9815 | – |
31/12/2022 | 0.9687 | 0.9639 | – |
30/11/2022 | 1.0243 | 1.0191 | – |
31/10/2022 | 1.0328 | 1.0276 | – |
30/09/2022 | 1.0221 | 1.0171 | – |
31/08/2022 | 1.0866 | 1.0812 | – |
31/07/2022 | 1.0571 | 1.0519 | – |
30/06/2022 | 1.3219 | 1.3153 | 0.2977 |
31/05/2022 | 1.3572 | 1.3504 | – |
30/04/2022 | 1.4293 | 1.4221 | – |
31/03/2022 | 1.4469 | 1.4397 | – |
28/02/2022 | 1.4310 | 1.4238 | – |
31/01/2022 | 1.4107 | 1.4037 | – |
31/12/2021 | 1.3960 | 1.3890 | – |
30/11/2021 | 1.3321 | 1.3255 | – |
31/10/2021 | 1.3159 | 1.3093 | – |
30/09/2021 | 1.2845 | 1.2781 | – |
31/08/2021 | 1.2544 | 1.2482 | – |
31/07/2021 | 1.2770 | 1.2706 | – |
30/06/2021 | 1.3650 | 1.3582 | 0.0280 |
31/05/2021 | 1.4052 | 1.3982 | – |
30/04/2021 | 1.4051 | 1.3981 | – |
31/03/2021 | 1.3388 | 1.3322 | – |
28/02/2021 | 1.3507 | 1.3439 | – |
31/01/2021 | 1.3641 | 1.3573 | – |
31/12/2020 | 1.3356 | 1.3290 | – |
30/11/2020 | 1.2661 | 1.2597 | – |
31/10/2020 | 1.2008 | 1.1948 | – |
30/09/2020 | 1.1948 | 1.1888 | – |
31/08/2020 | 1.2014 | 1.1954 | – |
31/07/2020 | 1.1197 | 1.1141 | – |
30/06/2020 | 1.1520 | 1.1462 | 0.0952 |
31/05/2020 | 1.1860 | 1.1800 | – |
30/04/2020 | 1.1860 | 1.1800 | – |
31/03/2020 | 1.1364 | 1.1308 | – |
29/02/2020 | 1.2642 | 1.2578 | – |
31/01/2020 | 1.2830 | 1.2766 | – |
31/12/2019 | 1.2335 | 1.2273 | – |
30/11/2019 | 1.2319 | 1.2257 | – |
31/10/2019 | 1.2118 | 1.2058 | – |
30/09/2019 | 1.1936 | 1.1876 | – |
31/08/2019 | 1.1584 | 1.1526 | – |
31/07/2019 | 1.1245 | 1.1189 | – |
30/06/2019 | 1.1120 | 1.1064 | – |
31/05/2019 | 1.0879 | 1.0825 | – |
30/04/2019 | 1.1046 | 1.0990 | – |
31/03/2019 | 1.0678 | 1.0624 | – |
28/02/2019 | 1.0607 | 1.0555 | – |
31/01/2019 | 1.0234 | 1.0182 | – |
31/12/2018 | 0.9894 | 0.9844 | – |
30/11/2018 | 1.0160 | 1.0110 | – |
31/10/2018 | 1.0186 | 1.0136 | – |
30/09/2018 | 1.0403 | 1.0351 | – |
31/08/2018 | 1.0451 | 1.0399 | – |
31/07/2018 | 1.0064 | 1.0014 | – |
30/06/2018 | 1.0013 | 0.9963 | – |
31/05/2018 | 1.0031 | 0.9981 | – |
30/04/2018 | 0.9891 | 0.9841 | – |
31/03/2018 | 0.9886 | 0.9836 | – |
28/02/2018 | 1.0018 | 0.9968 | – |
31/01/2018 | 0.9966 | 0.9916 | – |
31/12/2017 | 1.0000 | 0.9975 | – |
18/12/2017 | 1.0000 | 0.0000 | – |
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PORTFOLIO
Total portfolio holdings as at 31 Aug 2023: 34.0000
- TOP HOLDINGS (alphabetically)
- Portfolio breakdown





Fund Facts
Investment Objective
The goal of the Fund is to achieve long-term capital growth by investing in Israeli and Israeli-related companies, generating returns that consistently outperform the relevant benchmarks. Returns are not guaranteed.
Who Can Invest?
Wholesale clients as defined in the Corporations Act
Minimum Investment Amount
A$250,000
(Pengana, as trustee of the fund, reserves the right to accept lower investment amounts)
Fee Structure*
Management fee – 1.5% per annum paid monthly in arrears
Performance fee – 20% above the Hurdle with a high water mark, paid semi-annually in arrears
Hurdle
4%
Buy/Sell Spread
0.25% / 0.25%
Applications and Redemptions
Monthly
Distribution Frequency
The Fund aims to pay distributions annually
Recommended Investment Term
5+ years
*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s product disclosure statement available under the Reports & Resources section.
REPORTS AND RESOURCES
- Monthly Reports
- IM
- August 2023 - August Report
- July 2023 - July Report
- June 2023 - June report
- May 2023 - May Report
- April 2023 - April Report
- March 2023 - March Report
- February 2023 - February report
- January 2023 - January report
- December 2022 - December report
- November 2022 - Despite monetary tightening, the Israeli economy continues to expand
- October 2022 - Signs of easing global inflation pressures
- September 2022 - Until the dust has settled
- August 2022 - Strong growth, relatively low inflation and a budget surplus
- July 2022 - Innovative medical technology delivers almost 45% for the month
- June 2022 - RADA - Our fifth acquisition by a foreign multinational global leader
- May 2022 - May report
- April 2022 - April 2022 - Monthly report
- March 2022 - A positive outlook for Israel
NEWS AND INSIGHTS
Israeli Tech Companies
Fund Managers Sagi Ben Yosef and Gabi Dishi provide a portfolio update and insights from the reporting season. CPD points...
0.5 CPD
The value/growth dynamic
The last year has been characterised by volatile markets, driven initially by the onset of Covid in developed economies. A...
The demand for tech innovation and disruption
Fund Managers Sagi Ben Yosef and Gabi Dishi provide a portfolio update and insights from the reporting season.