A news release said the S&P/Harel Sector Indices will provide investors with a benchmark for measuring sector performance within the Israeli equity market and will serve as the basis for investment products.
The S&P/Harel Sector Indices are launched as part of a collaboration agreement entered by the two companies where S&P launches new sector indices for the Israeli market and Harel issues investment products which track the new indexes. On February 23, 2011, Harel will issue two investment products which track the following indexes:
- S&P/ Harel TA Energy Index, and
- S&P/ Harel TA Telecommunication Index.
“With the launch of these Indices, Israeli investors will have access to S&P Indices full range of indexing capabilities essential to both measuring asset classes and for serving as the basis for investment products,” said Alka Banerjee, Vice President at S&P Indices, in the news release. “Our full expectation is that these Indices will be the first of a family of indices serving both Israeli investors and those from outside of Israel looking to access this market.”
Each index within the S&P/Harel Sector Indices is made up of 12, 15, 20 or 25 of the largest eligible publicly traded Israeli companies listed on the Tel Aviv Stock Exchange (TASE) within industry sectors and sub-industries as defined by GICS, the Global Industry Classification Standard.