Israel’s largest investment house, Psagot, has acquired Meitav’s ETF business, Meitav Index Linked Certificates, in a deal worth NIS150m.

The acquisition of Meitav Index Linked Certificates, which currently has ETF assets under management of NIS10.2bn, will see Psagot double the assets of its own ETF division, Psagot Exchange Traded Notes.

Psagot ETN currently controls 30 per cent of the Israeli ETF market.