A documented sales approach and dated no-bond statements show different institutional outcomes without proving their cause.
The pitch reached ASHERS
DFA’s Andy Babbitt introduced the seller representatives to ASHERS Executive Secretary Robyn Smith on April 16, 2025. The seller replied on April 17 with a presentation and proposed conversation. Babbitt’s signature identifies his DFA role. Introduction and pitch thread.
What happened afterward
On May 15, 2025, Smith reported that ASHERS did not hold Israeli bonds. On July 14, 2025, she replied that ASHERS was not purchasing them. These are dated agency statements. They do not establish a verified September 2026 zero position. May statement · July statement.
The May response separately named Israeli-company equities. Zero Israel Bonds did not mean zero Israel-related investments.
Why the comparison matters
The reviewed five-file production contains the pitch and these later statements, with no identified adoption record. It does not prove an affirmative Board rejection, oral silence or why ASHERS took a different path. It is a descriptive comparison, not a controlled test of influence.
A consistent written process would let members compare the financial reasoning as well as the outcomes. Read the proposed safeguard.