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מגזין דצמבר 2022

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2011 2022 2022 4 14 2023 6 12 18 19 22

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077 77 83000 www bankautpratit co il trusts

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2022 2008 2022 2023 4 6 10 12 14 16 19 Even Better 24 MSW 26 28 30 31 SO ART 34 38 www bankautpratit co il 3

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2022 229 2018 4 2022 2023

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2022 45 2021 2022 2020 1 FTX 5

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MSCI AC world 03 23 02 03 0002 2225 2224 2022 2023 2024 2222 0 1 3 25 5 23 2 0 3 75 4 0 0 0 25 2 2 2 23 5 3 4 1 5 0 3 2023 Refinitiv national statistics offices national statistics offices Refinitiv 2022 2022 3 2 MSCI AC world 15 2 2222 2023 2 7 2225 2222 2023 2022 2222 5 2 125 10 2225 23 03 MSCI AC world 15 03 7 02 IMF IMF 6 2225 2224 2 2 2 2222 0 1 2225 0 2 0

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2 9 2 2022 1 6 2023 1 9 1 7 7 0 75 0 5 2022 5 5 5 2023 10 6 0 2 2022 2023 0 3 2 5 3 4 3 5 1 4 4 5 2023 6 2022 3 2023 OECD 2 8 2023 2023 2023 17 6 S P500 2225 5 6 2023 factset 232 5 2225 2023 0 1 S P500 15 2022 factset 3 1 2225 3 2225 252 2222 03 20 2022 22 11 8 8 5 2222 2023 00 2 2 3 2225 Yardeni research Yardeni research 2022 2222 7

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2023 2022 125 8 5 2022 8 10 1 6 2022 3 6 4 25 4 4 5 Bloomberg US Corporate index 15 5 1 32 HY senior loans HY 10 8 5 4 2 senior loans

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10 14 5 2022 3 27 1 25 3 44 3 5 4 60 2022 8 2 35 1 74 5 6 2022 2023 1 12 22 9 0 02 2222

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1992 2006 122 57 65 80 000 2012 2016 3 9 2012 Airportia 3 5 5 14 2 7 70 188 1992 2008 60 10

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35 30 1 1 3 050 7676715 www aharonoff law com 050 7676715 050 7676715 www aharonoff law com www aharonoff law com 050 7676715 www aharonoff law com 050 7676715 050 7676715 www aharonoff law com www aharonoff law com 13 13 15 13 15 13 13 11

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Trust Settlor Trustee beneficiary 12 Discretionary Trust Fixed Interest Trust Charitable Trust Purpose Trust

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2 1979 17 STEP 1970 1990 2010 2022 STEP STEP IMPACT 13

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20 MIT 2006 2004 7 20 Alexey Makarin MIT Luca Braghieri Bocconi American Economic Review Econometric 2022 Society European Meeting ESEM 14 2004 2006 National College Health Assessment 15

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7 20 25 27 13 16 85 18 16 15

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steenslag Wikipedia 2005 1991 30 380 16

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16 1938 400 30 17

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1896 18 19 18 18 19 1987 Pew Forum 2008 46 100 19 100 400

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2018 40x30 www Oferalbeck Com 19 19

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20 20 20

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OUR PERSONAL FINANCIAL ADVICE BEGINS WITH ONE QUESTION WHAT MATTERS TO YOU juliusbaer com J ulius Baer Financial Services Israel Ltd 46 Rothschild Blvd Tel Aviv T 972 0 3603 9111 23 The Tel Aviv Representative Office of Bank Julius Baer Co Ltd is supervised by the Swiss regulator and is not subject to the supervision of the Supervisor of Banks at the Bank of Israel Julius Baer Financial Services Israel Ltd is licensed by the Israel Securities Authority and provides its clients with investment marketing and portfolio management services in Israel and overseas Aspirations_EN BigDonorsIsraelMuseum 210x280 16082018 indd 1 16 08 18 15 59

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Even Better 130 early adapter BYD 24

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50 1957 2 000 1959 5 60 70 80 1955 20 90 20 GM 10 15 25

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MSW fight flight freeze 26 m a

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27 379 3 108 2 2 17 02 23 13 00 27 80 150 120 110 150 03 9660177 052 9660282 27 379 108 3 2 2 20 30 28 03 23 13 00 17 02 23 1 27 150 110 110 8080 150 110 150 120 03 9660177 052 9660282 3327

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Milne 72 Hyperosmia 33 12 28 25 65

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Crystal Eye Studio Shutterstock 2012 Kunath 2019 Barran 79 71 4 000 500 65 29

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30 21 FDA

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www gilihaskin com 701 13 1924 1925 1928 800 116 31 6 48 115 2000 800 20 31

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15 18 19 32

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33

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www so art co il SO ART 10 7000 100 1649 1660 2018 Anthony Van Dyck Charles I in Three Positions 1635 1636 After Hans Holbein the Younger Portrait of Henry VIII 1537 34 1660 319X399 500 500 2019

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Raphael da Urbino The Miraculous Draft of Fisher 1515 1516 1592 1593 The Calling of Saints Peter and Andrew 2000 50 Cristofano Allori Judith Holofernes 1613 50 Michelangelo Merisi da Caravaggio The Calling of Saints Peter and Andrew Johannes Vermeer A lady at the virginals with a gentleman The Music Lesson c 1662 5 35

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1633 1642 Franz Xaver Winterhalter Florinda 1852 Rembrandt Van Rijn The Shipbuilder and his Wife 1633 24 Franz Xaver Winterhalter 36 Franz Xaver Winterhalter Queen Victoria 1843 Prince Albert and Queen Victoria at Buckingham Palace May 15th 1860 Photo Getty Images

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2001 1962 Queen s Gallery 1992 115 62 13 Lucian Freud Queen Elizabeth II 2000 2001 60 MI 5 1979 2000 17 Andy Warhol Reigning Queens series 1985 37

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www hebpsy net 38 Celestial Music

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2011 2011 2011 2011 2011 2011 2011 20222011 2017 2017 2017 2017 20172017 2019 2021 4 2022 6 4 10 Closed End Funds 12 CoCo CoCo CoCo CoCo 12 12 12 12 38 16 4 4 16 4 4 44 34 34 16 1616 16 19 22 24 24 24 24 4 22 14 16 28 34 32 32 34 34 34 34 40 2011 2011 2017 2022 4 34 16 4 2022 6 32 10 190 14 22 19 22 2011 2020 2011 2019 2011 2020 4 10 Private Market 12 18 32 4 24 14 34 22 4 22 BULLET 14 16 32 www bankautpratit co il www bankautpratit co il www bankautpratit co il www bankautpratit co il