Michael McGrath (Cork South Central, Fianna Fail)
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71. To ask the Minister for Finance the value of the discretionary portfolio in the National Pension Reserve Fund; his plans for its use; the timetable over which this will be implemented; and if he will make a statement on the matter. [19694/13]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the National Treasury Management Agency, as manager of the National Pensions Reserve Fund (NPRF), that as at 29 March 2013 the Fund’s total value stood at €15.2 billion, of which the Discretionary Portfolio comprises €6.4 billion. With regard to the future plans for the NPRF, the Cabinet agreed at its meeting of 16 April to the drafting of a Bill to reorient the National Pensions Reserve Fund into the Ireland Strategic Investment Fund which will invest in the Irish economy on commercial terms in support of jobs and economic growth. It is my intention that the details of the Ireland Strategic Investment Fund will be announced shortly.