Management of the assets of the Sovereign Wealth Fund

The Citizens of Israel Fund was established pursuant to the Sovereign Wealth Fund Law, 5774– 2014.  The fund receives the proceeds the State receives from the impost on profits from the production of natural gas, oil, and other national resources. 

The Fund is intended to manage these revenues with a long-term vision to maximize them and to enable those revenues to exist for many generations.  The Fund's institutions (Council and Investment Committee) were established at the beginning of 2022, and are responsible for setting out the Fund's investment policy.  Members of these institutions include representatives of the government (the Minister of Finance is the Chairman of the Council), the Bank of Israel, and the public.  The Fund's assets are managed by a dedicated division within the Bank of Israel, which is under the authority of the Deputy Governor.

The Bank of Israel received the first sum for investment in June 2022, when the State's cumulative revenue from the impost exceeded NIS 1 billion -- the investment threshold set out in the law.  The Bank of Israel invests the money it receives according to the policy set out by the Fund's institutions.