Rimon Fund was established in late 2006 as a hedge fund focused on mid to long-term investments mostly in Israeli and Israeli related public traded companies, capitalizing on its founders’ vast experience and deep understanding of the local market
Based on more than 80 years of combined experience, we have a deep understanding and a strong network of contacts in the Israeli corporate world
We perform in-depth analytical process to assess a company, including competitive positioning, industry dynamics, management, operational capabilities and financial strength
We invest in companies in which we find a substantial discrepancy between intrinsic value and market value, translating into undervaluation, high returns and margin of safety
Our top 10 positions account for over 50% of NAV. We do not want to dilute our highest convictions
Investment time horizon is typically 2 years. Our longer time horizon enables us to avoid short-term thinking and be rewarded for patience
The majority of our LPs are family offices and private investors with a long-term approach
Based on more than 80 years of combined experience in the local market, we have a deep understanding and a strong network of contacts in the Israeli corporate world, including the financial sector, technology and startups, energy, real-estate and professional services providers.
GDP growth in Israel is among the highest in the developed world with more than 4% CAGR from 2007 to 2014. Employment rate is low at 5.4% in Dec 2015. Fiscal deficit was 2.8% in 2014 and debt to DGP ratio is reducing constantly, now at 64.9% in 2015 compared to an average of 97% in the G20. Israel is one of the few western world countries with healthy positive population growth - 2.9 children per woman.
The Israeli stock market benefits from high level of corporate governance supported by a very detailed and transparent financial reporting system - in line with the most advanced stock markets in the world. This results in a safe and reliable investing landscape, with negligible number of scams and frauds in the local market history.
Israel is ranked #1 in the world in quality of academic research by the WEF ‘11-’12, #2 with 4 universities in the top 30 in Computer Science, #3 in number of university degrees (20% of population, 3rd after the Netherlands and the US), #1 in scientists and engineers per capita ratio (140 for every 10,000 citizens - in the US only 85). Israel is also the #1 in the world in R&D expenditure as percentage of GDP – 3.9%. Israel represents the largest worldwide concentration of startups per capita and Israeli companies have a large contingent on the US public exchanges, (NASDAQ & NYSE).
Ziv began as a Buy-Side Technology Analyst at Bank Hapoalim’s Mutual Funds (1993-1995). In 1995 Ziv moved to Psagot Mutual Funds, where he became Head of Research and was the Fund Manager of 2 equity funds. Psagot was chosen by “Globes” as Israel’s top equity fund group in 1995, 1997 and in the 3 year period (1995-1997). Became Managing Director & Chief Investment Officer of Dikla Mutual Funds in 1998, where he managed the whole group of funds (Equity/Fixed income) till 2001, when he left to become a private investor in public companies. Dikla was Chosen by “Haaretz” as the top equity fund group in 1999. Ziv is a member of the Investment Committee of Phoenix Insurance and is the Chairman of the Investment Committee of Arxcis Global Wealth. He is also a director of Waterlogic Plc. Ziv was a member of the Investment Committee of Migdal Insurance (2003-2006) and taught an investment course in the MBA program of Tel-Aviv University. Ziv received a B.Sc. In Mathematics and Economics from Tel-Aviv University and an MBA from the Rotterdam School of Management
Zvi was a co-founder of the Magnum Technology Fund and the MagmaVC family of funds. From 1984 to 1990, Zvi was a management consultant with Bain & Co. in London, and later a partner with Shaldor Ltd., the leading Israeli management consulting firm. Zvi received his BA Cum Laude in Economics and Business Administration from Bar-Ilan University in 1981 and an MBA from INSEAD, in Fontainebleau, France in 1984. Has served on the Board of Directors of several private and public companies.
In 1995 Dan joined Zvi Limon and was a co-Founder of the Magnum Technology Fund. From 1988 to 1994, Dan was the Managing Director of the Corporate Bond division at Paine Webber in New York, responsible for sales & trading, research and syndication. Prior to that, he was the Managing Director of corporate bond trading and head trader of long term corporate bonds for Paine Webber in New York.From 1984 to 1988, Dan was Vice President and Head Trader of Telephone and Utilities corporate bonds at Salomon Brothers. Dan studied at the University of Southern California, where he graduated Summa Cum Laude in 1984 with a degree in Business Administration.
CFO and IR manager of Rimon Funds since inception.Liat previously served as a Manager of an audit team at E&Y Israel. Liat is a CPA in Israel, and holds her B.A. in Accounting and Business Administration from the College of Management (COM), Israel.
Before joining Rimon Funds, Idan was a strategic business consultant for 8 years (at Trigger-Foresight, Deloitte), specializes in the TMT sector (Technology, media & telecommunications) and Corporate Finance (valuations and business due diligences in M&A processes). In addition, Idan was an advisor for startups and investors, focusing on building business and financial strategy for startups in early stages. Idan holds a B.Sc. in Mathematics, Economics and a special program in Computer Science from the Hebrew University of Jerusalem and M.Sc in Financial Mathematics from Bar Ilan University.
Irit brings to the fund more that 20 years of experience providing executive and admistrative support to the management team.