NEWS: LOCAL

Illinois Treasurer Dan Rutherford announces additional investment in Israel

Israel Bonds
Pictured: Daniel Goldwin, Israel Bonds executive director, Midwest region; Marlene Kaplan, Israel Bonds national board member; Illinois State Treasurer Dan Rutherford; and Dr. Burt Herbstman, Israel Bonds Chicago chairman and national board member.

Illinois Treasurer Dan Rutherford is announcing the state treasury's purchase of an additional $5 million in Israel bonds to add to its sovereign bond holdings. The investment is in addition to the $20 million in Israel bonds already held in the state's portfolio.

Rutherford manages Illinois' $10 billion financial portfolio. He strives for diversified assets that offer maximum protection of Illinois taxpayers' money. "Israel bonds are a secure investment with an outstanding track record. They produce a dependable return and Israel has never defaulted on payments of principal or interest on Israel bonds," Rutherford said.

In expressing appreciation for the investment, Israel Bonds President & CEO Izzy Tapoohi said, "We are gratified by the Illinois purchase, and extremely pleased by Treasurer Rutherford's understanding that Israel bonds are the right investment for turbulent economic times. At a time of global financial uncertainty, Israel's economy stands apart as a model of stability." 

Rutherford also noted, "I'm pleased to invest in allies of the United States like Israel. There are some nations where it's beneficial for us to do the opposite. After I took office I conducted a thorough scan of the entire state's investment portfolio under my management to make sure it is devoid of any holdings with companies conducting business with either Iran or Sudan."

Posted: 6/21/2012 10:06:17 AM
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