Standard & Poor's said Monday that it launched a series of sector indices covering the Israeli equity market to serve as sector benchmarks and as a basis for investment products to be developed by the Harel Financial Group.
The S&P/Harel Sector Indices are being introduced by the two companies, with S&P rolling out the new sector indices for the Israeli market and Harel issuing the investment products to track the new indices.
Harel plans to issue two investment products that track the S&P/ Harel TA Energy Index and the S&P/ Harel TA Telecommunication Index on Feb. 23.
"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 a press release.