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HOPE

Are You A Shareholder
In Th e State Of Israel?

AGAINST

HATE Y

Building Resilient
Jewish Communities in
the Face of Threat

Monday, May 8th
Congregation Shaarey Zedek

A unique one-day conference, screening and talk that
examine the challenges—and potential solutions—
facing Jewish communities today.

3 Amazing Events:
Join Us for Any or All

Fight or Flight: A Conference on
the Modern Jewish Community
12:00 to 5:00 pm

EVENT

1

Offering a variety of in-depth sessions on the challenges
and opportunities facing Jewish communities today.

Breakout Sessions include:

• From Risk to Resilience: The Journey of a European Jew
• Confronting Anti-Semitism: A Local Perspective on Hate-Speech and Threats
• The Rise of the Neo-Facist Movement

$36 Conference fee (lunch included)

Exploring Denial with Deborah E. Lipstadt

EVENT

2

Special Screening: “Denial”
5:00 to 7:30 pm

Starring Academy Award ® winner Rachel Weisz

EVENT

3

Deborah E. Lipstadt’s “Denial:
Holocaust History on Trial”
7:30 to 9:00 pm

Professor Lipstadt shares her spellbinding account
of the experiences which led to her book, “Denial:
Holocaust History on Trial,” as well as her insights into
the lasting legacy of Anti-Semitism.
A minimum pledge of $18 to Federation’s 2017 Annual Campaign is required.
(Kosher box-dinners available.)

To learn more and register,
visit: jewishdetroit.org/hope

For more information, contact Margie Davis
at 248-205-2551 or davis@jfmd.org

ou care; I know you do. You’ve
panies and countries working directly
worked tirelessly to build and
against your values (and our commu-
strengthen the State of Israel
nity’s mission) than in Israel itself.
ever since you planted your
This “unintended under-
first tree in what is now a full-
weight” has occurred as the
grown forest. You want to be
investment case for Israel grows
impactful, relevant and a cat-
ever-stronger.
alyst for others — to embrace
Israel, as measured by the
intentionality across all your
BlueStar Israel Global Index
financial resources, to enter
(BIGI), the benchmark for Israeli
the next era of philanthropic
public equities (tracked by the
investing and, in doing so,
ISRA ETF on the NYSE), gained
engage the next generation in Joseph J. Levin
8.32 percent in the first quarter
Jewish life.
of 2017. Compare this to a surg-
You’re frustrated with the
ing U.S. market at 6.07 percent
constant barrage of headlines
and the story begins to get
with the letters, B, D and S. You want
interesting.
to be “for” something positive, free to
Take the longer view, over the past
celebrate the innovation coming out of
10-year market cycle, and Israel has
Israel and share in the economic suc-
dramatically outpaced its International
cess of the Startup Nation.
Developed (MSCI EAFE) and Emerging
Why? Because it just feels right. And Market (MSCI EM) peers by 69 percent
in this case, what feels right is actually
and 49 percent respectively.
a savvy and powerful financial decision.
In fact, Israel has been one of the top
In a world where the millennials and three developed economies for each
progressives in our midst are challeng-
of the last 10 years and one of the only
ing us to adopt “mission-aligned” and
developed countries to have positive
“program-related” investments, Israel
economic growth during the 2008/09
waits to be rediscovered.
financial crises.
It may come as a shock (and sound a
With GDP growth at 3.8 percent in
bit crazy) but most of our Jewish com-
2016, a credit rating of A+, record low
munal and pro-Israel organizations
unemployment of 4.3 percent, and a
have unintentionally divested or are
debt to GDP ratio of 62 percent (vs. 105
significantly underweight in Israel in
percent in the U.S.) Israel’s future eco-
their portfolios.
nomic success looks bright.
This isn’t necessarily by design,
Its technology sector, as measured by
rather by neglect. When was the last
the TA-BIGITech Index (tracked by the
time you asked your financial adviser
ITEQ ETF on the NASDAQ), continues
or consultant, “How much Israel is my
to excel and excite, gaining 14.2 percent
portfolio?”
during the first quarter of 2017. This
Didn’t realize you had to? Think
index comprised of the “start-ups that
again. The 2010 re-categorization
have grown-up,” like Mobileye (pio-
of Israel from “emerging market” to
neers of autonomous driving, currently
“developed market” status changed
in the process of being acquired by
the weight of Israel within global index
Intel for $15 billion), CheckPoint, Wix.
benchmarks and thus within your port- com and Nice have captured our imagi-
folio. This “graduation” — along with
nation and are literally changing how
the large number of Israeli companies
we experience the world.
(35 percent by market weight) that
Israel is at the nexus of impact,
have gone public on exchanges outside values and sophisticated portfolio
of Israel — requires us to take a more
construction. Add the double-bottom
proactive approach.
line of helping to strengthen Israel’s
If you sit on an investment commit-
economy, and the fact that investment
tee, a fiduciary board or are a stake-
is a specific antidote to divestment, and
holder/donor of a pro-Israel or Jewish
suddenly “mission- aligned” doesn’t
organization, this blind spot might
sound progressive enough.
have even deeper significance. It’s
Raising an allocation to Israeli equi-
important to also ask, “How much of
ties with your financial adviser — or
our assets are invested in companies or in the boardroom of your favorite
countries that are foes of Israel?” The
organization — just makes good sense.
response is likely to alarm you.
Align your values with your portfolio,
Countries like Qatar, UAE, Malaysia,
challenge your favorite organization to
Indonesia and Pakistan comprise 5-8
follow suit, and become a proud share-
percent of the typical emerging market
holder of the world-leading companies
index-based and actively managed
that call the State of Israel home. •
funds. This means that most of you,
Joe Levin is the chief investment strategist at
and the majority of the Jewish organi-
BlueStar Indexes and former chief develop-
zations that you care about, have three
ment officer at the San Francisco-based Jewish
to four times more exposure to com-

Community Federation and Endowment Fund.

10

April 13 • 2017

jn

