Dáil Éireann Debate, Tuesday - 28 June 2016
80. Deputy Pearse Doherty asked the Minister for Finance the value of investments the Ireland Strategic Investment Fund has made in companies involved in hydraulic fracturing here or elsewhere; and if he will make a statement on the matter. [17948/16]
View answerThe Ireland Strategic Investment Fund's (ISIF) has some limited exposure to companies involved in hydraulic fracturing in its global portfolio. The global portfolio is a transition portfolio the purpose of which is to manage the legacy assets inherited from its predecessor fund, the National Pensions Reserve Fund (NPRF) as the Fund transitions fully into Irish assets. In keeping with the ISIF's mandate to hold or invest its assets (other than directed investments) on a commercial basis in a manner designed to support economic activity and employment in Ireland, these legacy investments are being sold by ISIF over time to fund Irish investment commitments as they arise. In the absence of a globally accepted methodology or definition of companies involved in hydraulic fracturing, a preliminary and unaudited estimation of the Fund's current exposure to these types of companies is approximately €8m. This represents 0.1% of the Fund's investments.
