Catherine Murphy (Kildare North, Social Democrats) | Oireachtas source

There has been an increase in returns in recent years but in terms of the point made by the witness regarding the downturn, corrective strategies have thereafter been put in place in that cash is held for three years in order that something does not have to be sold when it is at its lowest value. The argument made by some is that that is what impacted on some funds. One set of figures I received shows where the dip occurred. Their ability to recover when it is sold off is negatively affected because there is nothing to recover as money was taken out of the system when it was at its lowest. Does the witness accept that corrective action has been taken as a consequence of a learning exercise in this regard?