Monday, August 16, 2010

Harvard's Investment Dealings With Israel

On that Harvard "disinvestment" story?

Here is the confirmation in writing from John Longbrake, Sr. Communications manager at the Harvard Management Company as follows:

From: "Longbrake, John"

Date: Mon, 16 Aug 2010 11:08:31 -0400


Subject: RE: Harvard Management Company Divesting from Israeli Holdings- Please Explain

Dear Dr. XXX,

Thank you for taking the time to write.

The Management Company's most recent SEC filing details changes in holdings, as is routine, but no change in policy. The University has not divested from Israel. Israel was moved from the MSCI, our benchmark in emerging markets, to the EAFE index in May due to its successful growth. Our emerging markets holdings were rebalanced accordingly. We have holdings in developed markets, including Israel, through outside managers in commingled accounts and indexes, which are not reported in the filing in question.

I hope that this is helpful.



See here as well.

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1 comment:

Anonymous said...

Harvard seems to have sold an emerging market fund invested in Israel. The list of stocks in the rest of the SEC filing looked far too small to be the entire Harvard portfolio, so I assume there are other holdings listed elsewhere or held through third parties. Israel is a bit of strange bird in the world of international investing because so many of its companies are listed in the U.S. and Europe, and in many cases (Check Point Software) not even listed as ADRs, meaning from an investment point of view they are neither Israeli nor emerging market companies.