Wednesday, 25 January 2012

Questions (73)

Charlie McConalogue

Question:

68 Deputy Charlie McConalogue asked the Minister for Finance the amount of money currently held in the National Pensions Reserve Fund; if he will provide an appropriate chart showing the pattern of changes in the value of the fund since 1 January 2007; and if he will make a statement on the matter. [4456/12]

View answer

Written answers (Question to Minister for Finance)

I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the provisional total value of the Fund was €14.5 billion at 31 December 2011, comprising the Discretionary Portfolio of €5.4 billion and the Directed Portfolio currently held at €9.1 billion pending completion of an independent valuation review of the Fund's investments in Allied Irish Banks. Quoted investments in the Discretionary Portfolio were valued at close of business on 31 December 2011 and investments in indirect investment vehicles were based on the most recently available valuations as at that date. Final year-end valuations in respect of the Discretionary Portfolio and the Directed Portfolio will be provided in the NPRF Commission's Annual Report for 2011 which is expected to be published in the middle of 2012. At 31 December 2010 the total value of the Fund was €22.7 billion, comprising the Discretionary Portfolio of €15.1 billion and the Directed Portfolio of €7.6 billion.

At 31 December 2009 the total value of the Fund was €22.3 billion, comprising the Discretionary Portfolio of €15.3 billion and the Directed Portfolio of €7.0 billion. 2009 was the first year in which investments were made under the direction of the Minister for Finance in securities issued by Bank of Ireland and Allied Irish Banks. At 31 December 2008 the total value of the Fund was €16.1 billion. At 31 December 2007 the total value of the Fund was €21.1 billion. At 31 December 2006 the total value of the Fund was €18.9 billion.