National Pensions Reserve Fund
Quarterly Performance Statement
30 September 2008
1. Fund Performance
1st July to 30 September 2008 |
-6.0% |
|---|---|
1st January to 30 September 2008 |
-17.3% |
2. Fund Asset Allocation at 30 September 2008
| Euro (millions) | % | |
|---|---|---|
| Large Cap Equity |
11,173
|
59.8
|
| Small Cap Equity |
714
|
3.8
|
| Emerging Markets Equity |
294
|
1.6
|
| Private Equity |
563
|
3.0
|
| Property |
763
|
4.1
|
| Commodities |
157
|
0.8
|
| Fixed Income |
3,313
|
17.7
|
| Currency and Other Funds |
218
|
1.2
|
| Cash |
1,494
|
8.0
|
Total Net Assets |
18,689
|
100.0
|
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.
The cash figure includes the unrealised gains/losses arising from the Fund's long term strategic foreign currency hedging policy.
GTAA = Global Tactical Asset Allocation.
