Mr. Seán Quigley:

We are always learning and considering areas where improvement can be made. The implication in the question is that people lost money because of it being in the growth fund and there being no cash holding. There is no evidence to support that. Even if all investment was in the growth fund, there was no separate cash holding and we were selling units out of the growth fund, those funds are above the level at which they were originally purchased and thus no realised cash has been lost. If the Deputy has evidence to the contrary, we would be happy to investigate the issue but we have investigated several cases in that regard and such a situation did not pertain. It was a pragmatic solution to ensure that that risk was taken off the table.