Joan Burton (Dublin West, Labour)
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Question 529: To ask the Minister for Finance to set out the current value of the National Pensions Reserve Fund, broken down into the discretionary and non-discretionary investment portfolios; and if he will make a statement on the matter. [34110/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The National Pensions Reserve Fund was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055. The National Pensions Reserve Fund Commission — who control and manage the Fund — publish a report on the performance of the NPRF as of the end of each quarter on the Commission's website www.nprf.ie. The most recent such report, to 30 June 2010, valued the Fund at €24.1 billion.

The value of the discretionary portfolio (investments made under the Fund's investment policy and for which the Commission is responsible) was €17.3 billion as of 30 June 2010. The value of the investments in Bank of Ireland and Allied Irish Banks plc, made by the Fund at the direction of the Minister for Finance, was €6.8 billion at the same date. This latter figure does not include €491 million in cash received by the NPRF in return for the cancellation of the warrants issued by Bank of Ireland in conjunction with the preference stock. This warrant cancellation formed part of the NPRF's participation in the capital-raising exercise announced by Bank of Ireland on 26 April 2010. This receipt has been allocated to the Fund's discretionary portfolio.