Michael McGrath (Cork South Central, Fianna Fail)
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79. To ask the Minister for Finance the value of the discretionary portfolio, including cash balances held by the National Pensions Reserve Fund; when the portfolio will be liquidated; and if he will make a statement on the matter. [42264/15]

Michael Noonan (Limerick City, Fine Gael)
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Following the commencement of the relevant section of the National Treasury Management Agency (Amendment) Act 2014 on 22 December 2014 the assets of the National Pensions Reserve Fund (NPRF) became the assets of the Ireland Strategic Investment Fund (ISIF).

The National Treasury Management Agency (NTMA) has advised that €7.146 billion represents both the final valuation of the Discretionary Portfolio at the termination of the NPRF's investment mandate and the opening valuation of the ISIF's Discretionary Portfolio. Cash & Cash Equivalents amounted to €2.423 billion or 34% of the value of the Discretionary Portfolio. The most recently published value of the ISIF's Discretionary Portfolio is €7.472 billion as at 30 September 2015. This includes Cash and short term investments of  €2.894 billion.

The ISIF recently published its Investment Strategy which outlines the transition from the National Pensions Reserve Fund global assets over a 3-5 year period to a Fund focused exclusively on Ireland, subject to commercial investment opportunities being available.

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