New York State Comptroller Thomas P. DiNapoli revealed today that the New York State Common Retirement Fund has acquired an additional $20 million in Israel bonds from the Development Corporation for Israel.
This latest acquisition elevates the state pension fund’s total Israel bond holdings to $267.8 million. “We purchase Israel bonds because of our trust in the spirit of innovation and determination of the Israeli people and our robust investments there,” DiNapoli remarked. Highlighting the financial solidarity during recent turbulent times, he acknowledged other U.S. states such as Pennsylvania, Florida, and Texas among those investing, collectively amassing $150 million in Israel bonds.
Israel Bonds President and CEO Dani Naveh lauded New York’s significant support, emphasizing the importance of these investments at a critical time for Israel. The bonds procured by the state pension fund come with a 10-year maturity and a coupon of 5.96%, rendering them attractive due to their high yield.
The New York State pension fund’s engagement with Israel Bonds traces back to the 1990s, with their overall investments in Israel spanning various asset classes and approximating $1.5 billion. Reflecting on the longstanding relationship, Howard L. Goldstein, chairman of the board of directors for State of Israel Bonds, stated, “The Empire State has continually shown that it stands firmly with the Jewish State today and always.”
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