The Maryland State Retirement and Pension System, which oversees a “multi-billion dollar” investment portfolio for more than 420,000 people, told JNS that it is not boycotting Israel Bonds despite claims to the contrary from anti-Israel groups.
“The board has not adopted any policies to discourage or prohibit investments in Israel bonds or in any securities associated with Israel,” the system told JNS on Thursday.
The investment in bonds, determined by the system’s trustees, “changes over time, and investment division staff continuously monitor the system’s holdings and available opportunity set to capitalize on dynamic market opportunities in the best interest of the system’s participants,” it told JNS.
Israel Bonds declined to comment.
The Council on American-Islamic Relations and Jewish Voice for Peace said earlier in the week that they had achieved a “historic victory,” claiming that the Maryland system had cut more than $62 million in Israel Bonds holdings, which it said was about 85% of the system’s investment.
The two anti-Israel groups said that the Maryland system’s investment in Israel Bonds was down to $11 million by the end of March and that “bonds were sold far before maturity.”
More than 100 witnesses testified in support of a bill that would divest the system from Israeli investments at a March 19 hearing.
