Statement on SEC 2010 second-quarter filing

The Harvard Management Company’s most recent filing with the U.S. Securities and Exchange Commission details changes in holdings, as is routine, but no change in policy.

The University has not divested from Israel. Israel was moved from the MSCI, Harvard’s benchmark in emerging markets, to the EAFE index in May due to its successful growth. Harvard’s emerging-markets holdings were rebalanced accordingly.

Harvard continues to have holdings in developed markets, including Israel, through outside managers in commingled accounts and indexes, which are not reported in the filing in question.