Oireachtas Joint and Select Committees

Tuesday, 22 July 2025

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach

Engagement with the NTMA on Matters Relating to its Operation

2:00 am

Mr. Nick Ashmore:

We did not make an active decision to invest in Israeli bonds. We made a decision to invest in a global bond index - in this case, it was linked to bonds - in order to construct the right risk-adjusted return portfolio of investments to achieve the objectives of the global portfolio. There is no active decision around selecting Israel specifically. It is a byproduct of investing in a bond index to achieve the commercial return that we are looking to achieve.

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