New York State Common Retirement Fund, Albany, has purchased an additional $20 million in Israel bonds, according to an Oct. 13 news release from Thomas P. DiNapoli, state comptroller and the sole trustee of the $254.1 billion pension fund.
The purchase of the bonds, offered by Development Corp. for Israel, brings the pension fund's total holdings in Israel bonds to $268 million, the news release said.
"New York state's pension fund buys Israel bonds because we have confidence in the spirit of innovation and tenacity of Israeli people and in the strength of our investments there," said DiNapoli in the news release.
"In addition to providing a steady return for our pension fund's members, Israel bonds help support one of our nation's strongest allies. I am heartened that so many other public funds have stepped forward to purchase bonds and support Israel, the only democratic government in the region, during these tragic and challenging days."
The news release notes that the purchase of Israel bonds means New York joins with Pennsylvania, Florida, Illinois, Texas, Ohio and other public U.S. funds in purchasing a total of $150 million in Israel bonds since the beginning of the Israel-Hamas War.