Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

The point is the State is the State, and the idea is that as much of the funding as possible would be invested in the State. That is what it is for. The issue is why assets can be held outside the State. It is possible to invest the €7 billion in the discretionary portfolio in commercial projects which support economic activity and employment in the State immediately. The NTMA will need to seek a return on moneys while it is awaiting the return on the investment. The NTMA may wish to invest in a fund which has a substantial, but not exclusively, Irish investment remit. An example of this is the National Pensions Reserve Fund's €50 million contribution to the €100 million China Ireland technology fund to invest in fast-growing Irish technology companies with a substantial presence or strategic interest in China, and in Chinese fast-growing technology companies with a substantial presence or strategic interest in establishing a presence in Ireland.