Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I am going to move on to the broader wealth funds. We are all conscious of what is happening in regard to Palestine, the oppression and illegal occupation of its territories. Generally, and I do not propose to speak on behalf of people throughout the State, but I think there is a message here. Not in Our Name. Taxpayers' money should not be invested in companies that operate illegally in the occupied territories. It is not acceptable. It should not require Ireland Strategic Investment Fund, ISIF, which deals with discretionary investment portfolio, to have to wait for legislators to pass legislation to direct it otherwise. I genuinely believe people do not want their money invested in this way. There are plenty of other investment opportunities. I hear what Mr. Ashmore said. He may want to respond to that but in regard to the wider questions of the sovereign wealth fund, ISIF also invests in Home Building Finance Ireland, HBFI. It invests in supporting house building. The interest rate environment is changing. Some institutional investors will look at more lucrative or rewarding returns elsewhere. There is an issue in regard to finance for construction and developers. Does Mr. Ashmore believe that the creation of the new sovereign wealth fund could complement what is already being done in terms of ISIF and HBFI in regard to providing funding for the construction of homes throughout the State? Does he believe there is a role for a fund which obviously would have to be diversified in nature for investment domestically or does he believe that should be more international? Does he believe the NTMA, given its positive track record in relation to managing funds, not least of which is ISIF and the old National Pensions Reserve Fund before the Government gave it to all the banks. There was a good return sought on all those funds. Does he think the NTMA is the vehicle to manage that in the future?