Oireachtas Joint and Select Committees

Thursday, 4 July 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018

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9:00 am

Mr. Conor O'Kelly:

That is correct. In ISIF terms, if the €850 million in total gains since inception are €750,000 lower because of this mistake of not hedging foreign exchange exposure that should have been hedged.

Had that been done, the fund returns would be €750,000 more.

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