Oireachtas Joint and Select Committees

Wednesday, 22 November 2023

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

General Scheme of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2023: Discussion

Photo of Rose Conway-WalshRose Conway-Walsh (Mayo, Sinn Fein)
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When we heard from representatives of the central bank of Norway, they spoke about the long-term trend towards falling real rate of returns from the wealth fund. It has over time shifted more towards equities as a share of the fund to maintain the real rate of the return and that is obviously the higher risk Mr. Gilvarry spoke mentioned. What will be the target real rate for the return of both funds, particularly the FIF? What will be the acceptable range of the real rate of return? Is that going to be established in legislation or will it be at the discretion of the Government of the day?