Catherine Connolly (Galway West, Independent) | Oireachtas source

Let me finish. I am not an economist or a financial. That is what I read in the summary and it is repeated in the report. It says the Act requires NAMA to obtain the best achievable financial return. In 2014, and only in that year, NAMA set an entity return on investment target of 20% and on that it achieved 33%. The report says that this measure does not take account of the time value of the money and that the standard performance metric is an internal rate of return. There is a clear conflict between the two.