Bank Hapoalim Launches Haposuisse Mutual Funds in Luxembourg.Business/Financial Editors ZURICH, Switzerland--(BUSINESS WIRE)--Dec. 29, 1999 Bank Hapoalim Bank Hapoalim (Hebrew: בנק הפועלים lit. Bank of the Workers) is the largest Israeli bank. (Switzerland) Ltd. Issues Three New Euro-denominated Funds The three Euro-denominated mutual funds, registered in Luxembourg, are managed by Haposuisse Fund Management Companies, fully owned subsidiaries of Bank Hapoalim (Switzerland). The Funds were designed with various risk tolerance Risk Tolerance The degree of uncertainty that an investor can handle in regards to a negative change in the value of their portfolio. Notes: An investor's risk tolerance varies according to age, income requirements, financial goals, etc. levels, whose main reference currency is the Euro, and allows for diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. into the Euro and European markets. Haposuisse Mutual Funds are in addition to the new offshore mutual funds Offshore Mutual Fund A mutual fund that is managed and housed in a foreign country, usually outside the U.S. Notes: Always be careful when investing your money in offshore accounts they may be more prone to scams because of relaxed regulations in many offshore countries. now available in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and are part of the ongoing effort to better service the Bank's foreign clientele. All the funds were designed specifically for private banking customers who are not residents or citizens of the United States. Bank Hapoalim, Israel's Global Finance Leader, has over 360 branches in Israel and 15 other countries. It should be noted that the above information does not constitute either advice, an offer, or a recommendation to purchase the mutual funds mentioned. |
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