JERUSALEM (JTA) — The value of assets managed by Israeli hedge funds has grown by one-third since 2012.

According to survey data collected by the hedge fund administrator Tzur Management, Israeli hedge funds managed $2.7 billion in assets in 2014. Thirty new hedge funds were opened in 2013, according to a news release.

The Tzur Capital Management Index of Israeli Hedge Funds also found that Israeli hedge funds performed better than the global hedge fund average in both 2012 and 2013, when Israeli hedge funds reported returns of 13 and 17 percent, respectively.

The majority of the funds’ total assets are invested outside Israel.

“When considering the impressive performance of Israeli hedge funds in recent years, it’s no surprise that we’re witnessing significant growth of both assets under management and the number of Israel based funds,” Tzur CEO Yitz Raab said in the news release. “This is a trend that demonstrates increasing confidence in Israeli managers and bodes well for the future.”

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