THE NATIONAL Pensions Reserve Fund (NPRF) earned a 6 per cent return in the first nine months of 2010, excluding investments made as part of a State injection of cash into the banks.
At the end of September, the fund had a value of €24.5 billion.
The NPRF was established in 2001 with the objective of contributing to the cost of meeting public service and social welfare provisions from 2025 onwards.
In a quarterly update on its performance, the fund said it had secured a return on investment of 3.6 per cent for the third quarter of the year.
The positive performance of the fund during the quarter is due to strong equity markets arising from the general belief among investors that central banks stand ready to provide whatever liquidity may be necessary to support economies and financial markets, the National Pensions Reserve Fund Commission said in a statement.
The fund is divided into two portfolios: the discretionary portfolio – which comprises investments made by the NPRF Commission, excluding the bank capital injections – and the Directed Investments portfolio.
The total fund earned 4.9 per cent for the year to date.
