National Pensions Reserve Fund
Quarterly Performance Statement
31 March 2009
1. Fund Performance
1st January to 31 March 2009 |
-6.7% |
|---|
2. Fund Asset Allocation at 31 March 2009
| Euro (millions) | % | |
|---|---|---|
| Large Cap Equity |
8,037
|
52.0
|
| Small Cap Equity |
483
|
3.1
|
| Emerging Markets Equity |
218
|
1.4
|
| Private Equity |
499
|
3.2
|
| Property |
507
|
3.2
|
| Commodities |
60
|
0.4
|
| Fixed Income |
1,087
|
7.0
|
| Currency and Other Funds |
179
|
1.2
|
| Cash |
787
|
5.1
|
| Directed Investments* |
3,617
|
23.4
|
Total Net Assets |
15,474
|
100.0
|
*The Fund's directed investments are the Bank of Ireland preference shares (with attached warrants) in which the Fund has invested under the direction of the Minister for Finance. The preference shares are held at cost. The warrants are marked to market.
Notes:
Figures are unaudited.
Returns are measured on a time-weighted basis. This eliminates the impact of external cash flows on performance.
Asset allocation is based on amounts allocated to each investment manager and includes cash and other net assets held.
Small cap equity figures relate to the Fund's dedicated small cap equity mandates only.
The Fund's large cap managers also have limited discretion to invest in small cap stocks.
