As of early 2000s the Phoenix Group's subsidiary KSM manages approximately 55 billion NIS of the Israeli public's capital, consisting of over 340 exchange-traded notes, index funds and active funds. KSM is a Hebrew acronym meaning “magic” for the pooled investment security known worldwide as ETFs – exchange traded funds. Since its founding in 2003, KSM has set the goal of turning the Israeli capital markets into a simpler and more accessible platform, through an uncompromising effort to… Show more As of early 2000s the Phoenix Group's subsidiary KSM manages approximately 55 billion NIS of the Israeli public's capital, consisting of over 340 exchange-traded notes, index funds and active funds. KSM is a Hebrew acronym meaning “magic” for the pooled investment security known worldwide as ETFs – exchange traded funds. Since its founding in 2003, KSM has set the goal of turning the Israeli capital markets into a simpler and more accessible platform, through an uncompromising effort to achieve maximum transparency and professionalism. KSM Group also manages index products for leading institutional entities in Israel, including the Phoenix. These products include provident funds, advanced study funds, and saving plans. The two companies, Excellence Mutual Funds and KSM Indices Certificates Trade, acted separately until their consolidation in 2018. Since then, KSM has managed all types of mutual funds – exchange traded notes (ETNs), open index funds, and active funds. Having issued multiple ETNs in Israel throughout the years, the company was well known to the public by the shortened name "KSM Indices". Until the consolidation, KSM Indices issued over 180 diversified ETNs, securities that included local and international shares, commodities, and currencies. Following the approach of passive investment management, KSM instilled in the Israeli market a viewpoint according to which index investment is preferable to targeted investment in specific equities and bonds. In late 2018, Excellence Mutual Funds was incorporated into the KSM Group, and the consolidated company transformed from an index company into a leading Israeli mutual fund company, offering clients ETFs (previously ETNs), open index funds, and active funds. Since early 2002 as specified, KSM is the manager of over 340 funds with a total value of 55 billion NIS. Show less