Written answers
Tuesday, 15 November 2011
Department of Finance
National Pensions Reserve Fund
9:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 124: To ask the Minister for Finance the value and breakdown by asset class, including cash, of the discretionary portfolio held within the National Pensions Reserve Fund as at 30 September 2011. [34373/11]
Michael Noonan (Limerick City, Fine Gael)
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The National Pensions Reserve Fund (NPRF) Commission publishes a performance and portfolio update quarterly on the NPRF website www.nprf.ie. For the Deputy's information, the Commission valued the NPRF at €14.9 billion at 30 September 2011. The Directed Portfolio (the part of the Fund which is managed by the Commission on foot of directions from the Minister for Finance) was valued at €9.6 billion, while the Discretionary Portfolio, the investment of which remains the Commission's responsibility, was valued at €5.3 billion at that date.
The value and asset allocation of the discretionary portfolio as at 30 September 2011 is set out in the following table:
| Asset Class | €m | % of Discretionary Portfolio |
| Large Cap Equity | 1,047 | 19.8% |
| Small Cap Equity | 114 | 2.2% |
| Emerging Markets Equity | 334 | 6.3% |
| Quoted Equity | 1,495 | 28.3% |
| Eurozone Government Bonds | 0 | 0.0% |
| Eurozone Inflation Linked Bonds | 63 | 1.2% |
| Eurozone Corporate Bonds | 275 | 5.2% |
| Cash | 1,018 | 19.3% |
| Financial Assets | 1,356 | 25.7% |
| Private Equity | 888 | 16.8% |
| Property | 510 | 9.7% |
| Commodities | 213 | 4.0% |
| Forestry | 30 | 0.6% |
| Infrastructure | 275 | 5.2% |
| Absolute Return Funds | 188 | 3.6% |
| Alternative Assets | 2,104 | 39.8% |
| Value of equity market protection (put options) | 328 | 6.2% |
| Total Discretionary Portfolio | 5,283 | 100% |
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