Harvard University fund sells all Israel holdings

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PostFri Aug 20, 2010 2:34 am » by Harbin


http://www.sott.net/articles/show/213818-Harvard-University-fund-sells-all-Israel-holdings

Hillel Koren
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Sun, 15 Aug 2010 16:05 CDT
No reason for the sale was mentioned in the report to the SEC.

In another blow to Israeli shares, the Harvard Management Company notified the US Securities and Exchange Commission (SEC) on Friday that it had sold all its holdings in Israeli companies during the second quarter of 2010. No reason for the sale was mentioned. The Harvard Management Company manages Harvard University's endowment.

Harvard Management Company stated in its 13-F Form that it sold 483,590 shares in Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) for $30.5 million; 52,360 shares in NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) for $1.67 million; 102,940 shares in Check Point Software Technologies Ltd. (Nasdaq: CHKP) for $3.6 million; 32,400 shares in Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) for $1.1 million, and 80,000 Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) shares for $1.8 million.

Harvard Management Company's 13-F Form shows some interesting investments. Its two largest holdings, each worth $295 million, are in iShares ETFs, one on Chinese equities, and the other on emerging markets. Harvard also owns $181 million in a Brazilian ETF.

Harvard, American Premier University, does not think too much of Israeli companies right now. Does this mean it has doubts about Israel itself ?
:think:
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PostFri Aug 20, 2010 3:06 am » by Proto


Israel was raised to developed- market status at MSCI Inc., whose stock indexes are tracked by investors with about $3 trillion in assets.

Israel, with a stock market valued at more than $131 billion, was the 14th-biggest nation classified as an emerging economy by the New York-based firm, according to data compiled by Bloomberg.

The TA-25 Index of Tel Aviv shares has surged 31 percent this year, which would make it the second-best performing developed market after Norway.

the new classification will be negative in the short term for stocks as emerging-market investors who are barred from owning equities in developed countries sell holdings to reflect Israel’s new status.

“Investors are selling equities in Israel as they anticipate this reshuffling of assets”
said Doron Levi, head of the dealing room at Mizrahi, Israel’s fourth-largest bank.

http://www.bloomberg.com/apps/news?pid= ... zM6pZVRHRM

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PostFri Aug 20, 2010 3:08 am » by Boondox681


Israel was raised to developed- market status at MSCI Inc., whose stock indexes are tracked by investors with about $3 trillion in assets.

Israel, with a stock market valued at more than $131 billion, was the 14th-biggest nation classified as an emerging economy by the New York-based firm, according to data compiled by Bloomberg.

The TA-25 Index of Tel Aviv shares has surged 31 percent this year, which would make it the second-best performing developed market after Norway.

the new classification will be negative in the short term for stocks as emerging-market investors who are barred from owning equities in developed countries sell holdings to reflect Israel’s new status.

“Investors are selling equities in Israel as they anticipate this reshuffling of assets”
said Doron Levi, head of the dealing room at Mizrahi, Israel’s fourth-largest bank.

true.
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PostSun Aug 22, 2010 11:06 pm » by Harbin


Nice work.
Thank you, Proto.
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