Written answers
Wednesday, 5 May 2010
Department of Finance
National Pensions Reserve Fund
9:00 pm
Joan Burton (Dublin West, Labour)
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Question 135: To ask the Minister for Finance the current balance in the National Pensions Reserve Fund; if he will provide a breakdown of this balance by asset class, including the balance of cash and near cash assets; and if he will make a statement on the matter. [18023/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The National Pensions Reserve Fund was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055. The National Pensions Reserve Fund Commission – who control and manage the Fund – publish a report on the performance of the NPRF at the end of each quarter on the Commission's website www.nprf.ie/home.html. The most recent such report, to 31 March 2010, valued the Fund at €24.5 billion.
Of that amount, the Fund held investments worth €7.295 billion, or 29.8% of the value of the Fund, in Allied Irish Bank and Bank of Ireland at the direction of the Minister for Finance. The composition of the remainder of the Fund, which the NPRF Commission refers to as its discretionary portfolio, was as follows:
€m | % of Total Fund | |
Large Cap Equity | 7,895 | 32.3 |
Small Cap Equity | 852 | 3.5 |
Emerging Markets Equity | 842 | 3.4 |
Private Equity | 673 | 2.8 |
Property | 451 | 1.8 |
Commodities | 165 | 0.7 |
Bonds | 1,330 | 5.4 |
Currency & Asset Allocation Funds | 194 | 0.8 |
Cash | 3,729 | 15.3 |
Assets transferred from University Pension Funds | 1,026 | 4.2 |
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