In a turn-around following three months and NIS 10 billion in redemptions from shekel-based mutual funds, the public is again expressing its trust in the shekel.

According to data on mutual funds from the Meitav investment house, the funds recorded NIS 614 million in deposits in October. Last month the trend was reinforced by deposits of NIS 2 billion.

The figures indicate an increase of NIS 1.6 billion in assets in November, bringing the asset total to NIS 55.4 billion.

Most of the increase in assets is due to cash deposits, although some of the increase is the result of the funds' positive returns.

Meitav stated that despite the stock market's gains in November, share-based funds raised only NIS 27 million. Mutual funds specializing in government bonds raised NIS 610 million, and foreign currency funds raised NIS 46 million.