Illinois Treasurer Dan Rutherford has announced the state’s purchase of $10 million worth of bonds from the State of Israel as a portion of the treasury’s sovereign bond holdings.  The rate of return on these bonds is significantly higher than the current rate on general treasury bonds.  In fact, as interest rates rise over the life of the three-year bonds, as they are expected to do, the state stands to see an even higher rate of return.

Rutherford manages Illinois’ $10 billion general financial portfolio. He strives for diversified assets that offer maximum protection of the money owned by taxpayers.  “State of Israel bonds are a secure investment with an outstanding track record; they produce a strong rate of return and Israel has never defaulted on payments of principal or interest,” Rutherford said. 

In praising the purchase, Israel Bonds president and CEO Joshua Matza noted, “The state of Illinois has been a loyal, consistent purchaser of Israel bonds. We are gratified by the state’s continued recognition of Israel bonds as dependable securities, as well as the fact that Israel bonds represent an investment in a sister democracy with shared values and ideals.”

The State of Israel has offered stable investment return for more than a half a century.  Israel began selling bonds in 1951; in that time, the country has raised $32.4 billion worldwide to transform its economic landscape into a global technology leader. Bond revenue has helped Israel build more NASDAQ companies than any other country outside of North America. The country has established a high concentration of high-tech entities similar to Silicon Valley, and major corporations like Intel, Microsoft, Motorola, and Google have built facilities there.

Rutherford added, “I’m pleased to have another secure and high return investment for the state’s portfolio. After thorough review from financial experts, this is not only a vey good financial move, but a stable diversification of our portfolio.”

(YWN Desk – NYC)