Jay Tcath, Executive Vice President, Jewish United Fund/Jewish Federation of Chicago, forwarded this posting to me in response to my Times of Israel posting on how federations invest their funds:
A few recent Jewish media stories have critically reported on the alleged lack of Jewish Federation investments in the Israeli market. We are proud to share the truth about JUF’s holdings:
1. Years before the issue of federation investments in Israel became a public discussion, JUF actively invested in the Jewish State. Today we have tens of millions of dollars invested there – more than any other federation. In fact, relative to its market, JUF’s investments are significantly over-weighted in Israel.
2. JUF was the lead seed investor in the VanEck Vectors Israel ETF (ISRA), which tracks the BlueStar Israel Global Index.
3. JUF has other diverse, direct investments in Israel as well as in managed funds with substantial Israeli holdings. JUF’s portfolio has single-country strategies only for the U.S. and Israeli markets.
4. We do not invest a single dollar in broad non-U.S. index funds. In fact we have zero passive exposure to ANY country outside of the U.S. (S&P 500) and Israel (BlueStar). This means we have absolutely no incidental permanent exposure to any country, including those listed in the April 5, 2017 Times of Israel article. READ MORE