Israeli guardians will be allowed to invest their wards’ money in securities

On November 6, 2024, new rules governing the ability of guardians in Israel to manage the capital of their wards will come into force.

Under the reform promoted by the Office of the Guardian General at the Justice Department, guardians will be able to invest their wards’ money not only in solid instruments such as bank deposits, but also in securities.

As Globes reports, there are currently about 50 thousand people under guardianship in Israel, whose total capital is estimated at 20-30 billion shekels.

Under the new rules, guardians will be able to invest the free capital of their wards, which they will not need in the next two years, in stocks and bonds. According to estimates, we are talking about several billion shekels.

Investments are possible with the following restrictions: no more than 20% – in shares included in leading stock indices (up to 10% – in Israeli ones, up to 10% – in foreign ones); up to 35% in corporate bonds with a high credit rating, up to 10% in securities in foreign currency (in addition to shares), no more than 5% in shares of one company.

Investments in speculative securities and illiquid assets are prohibited. Investments in bank deposits, government bonds and money funds are also permitted for money that may be required in the short term.

By Editor

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