S&P launches S&P/Harel Sector indexes on the Israeli equity market

By Melissa Kory

Cleveland, Feb. 14 - Standard & Poor's and Harel Financial Group announced that S&P launched the S&P/Harel Sector indexes, which cover a range of companies within the Israeli equity market and provide a benchmark for measuring sector performance.

The indexes are part of a collaboration agreement by S&P and Harel whereby S&P launches new sector indexes for the Israeli market and Harel issues investment products that track the new indexes.

On Feb. 23, Harel will issue two investment products that track the two indexes currently comprising the suite: the S&P/Harel TA Energy index and S&P/Harel TA Telecommunication index.

Each of the S&P/Harel Sector indexes is made up of 12, 15, 20 or 25 of the largest eligible publicly traded Israeli companies listed on the Tel Aviv Stock Exchange within industry sectors and sub-industries as defined by the Global Industry Classification Standard, according to the news release.

"Our full expectation is that these indexes will be the first of a family of indices serving both Israeli investors and those from outside of Israel looking to access this market," Alka Banerjee, vice president at S&P Indices, said in a news release.

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