17.01.2012 - Irish pensions reserve fund loses EUR8bln despite positive portfolio return
The National Pensions Reserve Fund (NPRF) has seen its assets under management fall by 8bn over the past year, with its holdings in two troubled Irish banks to blame for the 36% decline in value. However, despite the negative overall return, the fund's discretionary portfolio still controlled by the NPRF Commission, unlike the directed portfolio targeted at recapitalising Bank of Ireland (BoI) and Allied Irish Banks (AIB) earned a preliminary return of 1.6%, outperforming Irish managed pension funds, according to the fund's own estimates...............................................Full Article: Source
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