28.07.2011 - Irish sovereign fund drops to EUR5.27bln on bailout cost
Ireland said Wednesday that assets in its National Pensions Reserve Fund, or NPRF--a mini sovereign wealth fund--have been reduced to EUR5.27 billion after the government was forced to sell down its market investments in its "discretionary fund" to help rescue the country's two major banks. The NPRF said it now holds EUR15.5 billion worth of assets transferred into its so-called "directed fund" that has been earmarked to support Bank of Ireland PLC and Allied Irish Banks PLC, major lenders that required billions of euros of government aid amid the country's debt crisis. The directed fund assets include shares in the two banks and other rescue monies..............................................Full Article: Source
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