Treasurer's Office Rejects Groups' Plea to Cancel Israel Investments

Mr. Heller,

Thank you for the recent email expressing concern about the Israeli-Palestinian conflict and the State of Connecticut’s holdings of bonds issued by the State of Israel, as well as its investments in Israeli companies. As you know, we have corresponded in the past, most recently in August when we discussed our Israeli investments. Back in 2011, we explained the framework followed by the Treasury for monitoring international investments in conflict areas, specifically in relation to foreign policy and the national interests of the United States. We believe that, despite the ongoing conflict, the underlying legal and policy basis for our approach remains sound.

Like you, it is our hope that a peaceful solution to this conflict can be found soon, as it has taken a terrible toll in human life and suffering. Please be assured that we intend to continue to monitor the situation in the Middle East broadly, and the Israeli-Palestinian conflict specifically for its effects on the State pension fund investments.

Thank you for sharing your views with this office.

Christine Shaw, J.D., M.B.A.
Deputy Treasurer
State of Connecticut
55 Elm Street
Hartford, CT 06106-1773

via email Oct. 23, 2014