Management of the assets of the Sovereign Wealth Fund

Pursuant to the Sovereign Wealth Fund Law, 5774–2014, a fund was established for the management of the proceeds the State receives from the impost on profits from natural gas and oil and other national resources.  The Sovereign Wealth 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 will be managed by a division created for the purpose within the Bank of Israel, and its institutions (council and investment committee) are expected to be established in2 018.  In the coming year, the Bank of Israel will begin preparations for investing the first flow expected to be received from the Fund—NIS 1 billion.  Its preparation includes the development of the business, corporate, accounting and technological infrastructures for managing the Fund’s assets.