Oireachtas Joint and Select Committees

Wednesday, 24 May 2023

Committee on Budgetary Oversight

Sovereign Wealth Funds: Discussion

Mr. Nick Ashmore:

We do not have to withdraw the money from the fund. If we redeploy the money from the fund, it will redeem those Exchequer notes, so they will be cancelled and that element of the gross debt will disappear. One of the things we are looking at is diversifying the holdings within that fund. We are getting some clarification as to the time horizon within which the fund might be required and that may allow us to diversify into some other investments just to balance the portfolio. At the moment, it is all in Exchequer notes, which is a very attractive place to park it right now because at this point in time the yield is attractive, but there are other investments that we think would work well in that fund, so we do not see it being in Exchequer notes completely for ever.

Comments

No comments

Log in or join to post a public comment.