Mr. Seamus McCarthy:

When NAMA was at this committee last, I recommended that it adopted target rates of return for the overall portfolio and for individual projects. NAMA disagreed with that recommendation so it is an issue that I will return to in the next review, but the committee had a discussion with NAMA about the merits of having a rate of return. NAMA does have financial return measures but I believe they are too broad and do not really go into the project economics of any individual investment or divestment.