Bank Hapoalim in January lost 1.34% of its mutual funds market segment mainly to Ilanot Discount. In January mutual funds raised a staggering NIS 14 billion.

TheMarker has learned that the total assets of the mutual funds industry in January grew to NSI 76.2 billion, compared with NIS 62.8 billion in December 2001. The increase is related to the sharp interest rate cut of 2%, which rocked the markets, resulting in a new investment mix.

Bank Hapoalim had NIS 28.7 billion mutual fund assets under its management in January, which comes to 37.7% market segment, compared with NIS 24.5 billion at the end of December, 39% of the market segment. Most of the bank's mutual fund assets are managed by Lahak, whose market segment in January decreased by 3.36%.

Ilanot Discount's mutual funds market segment markedly grew to 11.79%, NIS 9 billion involving 41 mutual funds. In December, Ilanot Discount's mutual funds market segment came to 10.75%, NIS 6.7 billion.