Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

There is another unintended consequence I wish to mention. The State can potentially lose money through the global portfolio if the State is obliged to go into cash. There can be negative returns on that. Make no mistake, that is a fact. With interest rates at historically low levels for this period of time, if ISIF is obliged to move out of certain sectors and put money into cash it can be charged to have that cash. That can then be a charge on the State. It is important to remember that.