It seems my optimism from Q1 2021 Covid number progress in Israel, like many, was too short lived. We hope this finds you well and safe from the latest increase in numbers.

The second quarter of 2021 was less dramatic from a market point of view than the first, however July has been challenging due to China issues, where we do have some exposure (more on that below). Our outlook for the remainder of the year is more cautious than the first part of the year, where the post-Covid growth theme dominated the landscape.

Throughout the Corona period, we have hosted numerous webinars via Zoom and have found this to be a major positive development. We recently held a webinar focused on Q2 2021 and current investment issues and you may follow the link to view it. For those who prefer to read, we will summarize the main points of that webinar here for you.

Our office is buzzing with activity again and it feels like pre-Covid. Restaurants are open, sports events and concerts with crowds are happening, and we are even sitting in traffic jams again… life in Israel is indeed returning to normal.

We are not out of the woods just yet, however with a virus reproduction rate of 0.49 in Israel it seems that the end is in sight. Unfortunately, we cannot say the same for the rest of the world. Globally, the reproduction rate is 1.08, which means the virus is still growing 6 months after the announcement of the first vaccine and with over 670 million doses administered. Even in the USA, where the vaccine roll out has been reasonably good for such a large population, the reproduction rate is above 1. This mean that virus issues will continue to plague the world for at least 6 months to a year or more.

Throughout the Corona period, we have hosted numerous webinars via Zoom and have found this to be a major positive consequence. We recently held a webinar focused on Q1 2021 and current investment issues and you may follow the link to view it. For those who prefer to read, we will summarize the main points of that webinar here for you.

In Israel, we feel the mix of fear of growing virus numbers as well as the optimism from the roll out of the vaccine. We hope the vaccine will reach each of you as soon as possible and hope that in time those skeptical towards the side effects will be proved wrong. It's seems that most of our webinar attendees believe COVID will still be with us in 2021 and that most of them will get vaccinated. Let's get Corona behind us!

Throughout Corona period, we have hosted numerous webinars via Zoom and have found this to be a major positive consequence of the virus. We recently held a webinar focused on 2021 key investment themes and you may follow the link to view it. For those who prefer to read, we will summarize the main points of that webinar here for you. During our webinar we asked the attendees to predict what will happen in the main issues discussed. Below you will find some more of the results.

When it comes to alternative investments, it is important to know how to invest your money smartly and efficiently, while considering all relevant risks – just as you would with any other investment type.

It has been surreal for all of us to experience this year’s holidays with limited family gatherings and shul services. We hope that you managed to make the most of the challenging situation. Israel's virus position is indeed precarious and it is clear this is not a short-term problem as we initially hoped. We remain vigilant in terms of our portfolio positioning and risk management. We do believe that there are tough economic times ahead; however, we do not believe we will see another market panic scenario as we saw in March 2020. In the following commentary we will address the global market YTD and outlook, upcoming elections, ESG investment and other interesting updates and developments.