The First American Israel Mutual Fund announced today the filing of a Registration Statement with the Securities and Exchange Commission seeking registration of a $27,500,000 issue of its Shares of Beneficial Interest. A public offering of these shares will be made through an investment banking group. The announcement was made by Lawrence G. Laskey, president of the Fund.
Shares of the Fund will be offered at a $10 per share maximum public offering price. Shares may be purchased for cash, part cash and part State of Israel bonds of the Independence Issue or First Development Issue, or State of Israel bonds of either of the above Issues. No subscription in an amount less than $500 will be accepted by the Fund.
Shares of the Fund will become redeemable on and after the 120th day following the date of the final Prospectus. The Fund’s principal objective will be that of acquiring a portfolio of securities affording long-term capital growth possibilities primarily through investment in securities of Israeli companies, with some investment being made in American securities.
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