Vanguard is entering the Israeli fund market, reports the Jerusalem Post
. The Valley Forge, Pennsylvania-based fund firm signed a partnership with the Forum
group on Sunday in Tel Aviv in order to gain entry to the Middle Eastern market.
Also signing on as part of the deal was Wellington Management, a longtime ally of Vanguard.
"Structural changes and the anticipated capital market reforms, alongside the equalization of taxes for investments abroad, have created an opportunity for cooperation," Forum CEO Ami Segel
told the paper. "We intend to offer institutions and other market players products from the world's strongest mutual fund management firms. Vanguard and Wellington have studied the Israeli market and are commencing operations here with confidence in the market and a long-term outlook."
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