I propose to take Questions Nos. 198 to 200, inclusive, together.
I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the announcement in January 2013 of the three new SME funds to provide equity, credit and restructuring/recovery investment has been received well in the market place. The NPRF has completed commitments of €125 million to the SME Equity Fund managed by Carlyle Cardinal Ireland and €50 million to the SME Turnaround Fund managed by Better Capital Fund and the managers of these funds have recently commenced actively seeking appropriate investments. The SME and Mid-Corporate Credit Fund to be managed by BlueBay is currently being prepared for its launch, which is expected in the second quarter of 2013.
The details of individual investments made by the Funds in question are commercially sensitive and, as a commercial investor, the NPRF is subject to confidentiality provisions in the various fund formation agreements. The NPRF intends to publish a report regarding the investments made under the Strategic Investment Fund programme, including information along the lines requested, on an aggregate basis in July and January each year, commencing in July 2013. Announcements in respect of specific developments in relation to each of these Funds will be made available on the NPRF website as they arise.