The Bank of Israel reported that the Citizens of Israel Fund (CIF), whose assets are managed by a dedicated department at the central bank, has been selected as “Fund of the Month” by Global SWF, a research group covering sovereign wealth funds and public pension funds. Global SWF based the selection on CIF’s achievements since its establishment in 2022, including a strategic shift toward private market investments while maintaining macroeconomic stability and an intergenerational focus. Global SWF’s monthly report includes an interview with Lena Krupalnik, Head of the Citizens of Israel Fund Management Department, covering the fund’s creation, governance and investment approach. The release highlights that CIF began operating in June 2022 after NIS 1 billion in resource revenues had accumulated, uses a benchmark of 70% equities and 30% debt, and completed its first private investment in July 2025, alongside Israel Tax Authority forecasts of significant revenue growth in coming years.
Bank of Israel 2025-08-10
Bank of Israel announces Citizens of Israel Fund named Global SWF Fund of the Month
The Bank of Israel announced that the Citizens of Israel Fund (CIF) was named "Fund of the Month" by Global SWF, recognizing its strategic shift toward private market investments while maintaining macroeconomic stability. CIF, which began operations in June 2022 with NIS 1 billion in resource revenues, follows a 70% equities and 30% debt benchmark and completed its first private investment in July 2025.