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State Board reports positive quarter, discloses $47 million in Israel bonds and raises book-return target
Summary
At a State Board of Finance meeting, officials reported strong quarterly investment earnings, disclosed $47,000,000 in Israel bond holdings, and voted to raise the book-return target range for Oct–Dec to 3.25%–3.35%; the treasury report was approved.
The State Board of Finance on an unspecified date heard a quarterly investment report that showed strong income and approved a modest change to the board’s short-term return target.
Board presenters said the treasury recorded more than $86,000,000 in income for the quarter and that the money market trust fund produced a 5.37% return for participating state and local government agencies. In roundtable remarks before a slide presentation, one presenter confirmed the portfolio includes Israeli sovereign debt: “Are they in our portfolio? The…
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