Indiana State Treasurer Daniel Elliott announced Wednesday that he has authorized another $5 million of investments in Israel Bonds for the state of Indiana.
Elliott
“Despite the hardships currently faced by the nation of Israel and their citizens, the economy and will of the Israeli people remains unbroken,” Elliott said. “These investments are a reflection of my confidence in those markets and will provide great value for Hoosier taxpayers.”
As Indiana’s Chief Investment Officer, Elliott oversees the investment of nearly $17 billion of state assets and sits on the boards of multiple state agencies that oversee state funds.
“While there may be a few loud individuals on college campuses and other places that want us to abandon Israel, I believe now is the time to refocus and recommit to our most important ally,” Elliott said. “We don’t need to boycott and divest but engage and invest.”
Indiana currently holds $105 million in Israel Bonds. After Wednesday’s purchase, the state will hold $110 million in Israel Bonds. This purchase is a $5 million bond at three years, at a fixed rate of 5.5 percent, and yield at 65 basis points higher than U.S. Treasury notes. Israel has never missed a payment on its debt service.
The Treasurer of State is authorized by statute to invest in Israeli bonds by the General Assembly.
Nieshalla
Indiana State Comptroller Elise Nieshalla says she supports the state’s additional $5 million investment in Israeli Bonds.
“What a privilege to represent a state that is offering further investment to Israel that aligns with our fiduciary duty to deliver solid yield, low risk and high liquidity with state dollars,” Nieshalla said. “As an American, seeing what is happening to Israel and the Jewish people is devastating and there is a strong sense of duty to stand with our friends. As a Hoosier, I value the opportunity for our state to partner with a country that has offered us decades of innovation and security support.”
Nieshalla manages the distribution of tax dollars to units of government, thus it is vitally important that state dollars are invested with integrity.
Indianapolis Jewish Community Relations Council applauds $5M purchase of bonds
The Indianapolis Jewish Community Relations Council (JCRC) issued statement on Wednesday expressing its gratitude to the State of Indiana and Treasurer of State Daniel Elliott for the purchase of an additional $5 million in investments in Israel Bonds.
With the war between Israel and Hamas continuing for over seven months, the shocking sharp increase in antisemitism in the United States, and the anti-Israel protests emerging on college campuses, JCRC appreciates this strong vote of confidence in Israel. This purchase of Israeli Bonds is another decisive step that demonstrates Indiana’s deep bond and allyship with the State of Israel.
Furthermore, JCRC says this is a huge win for all Hoosiers. The investments will provide a substantial rate of return for Indiana, contributing to economic growth that will benefit all citizens across the state.
“Thank you to Treasurer Elliott for his leadership,” JCRC President Jamie Ratner Rich said. “Investing in Israel bonds sends a loud and clear signal that Indiana stands with and supports Israel.”
JCRC officials say they look forward to working with the State Treasurer, Governor, and other elected officials to continue to affirm Indiana’s connection with Israel.