Irish National Pensions Reserve Fund gains 2.4% in first quarter
{{date|April 22, 2005}}<br>

[[Ireland|Ireland's]] National Pensions Reserve Fund (NPRF) has posted a 2.4% return for the first quarter (9.6% annualized). On March 31, the funds value stood at €12.3bn, a rise of €290m (excluding state contributions) since December 31.

Donal Geaney, the fund's chairman, told the press that growth in the past quarter had been driven by the Fund's European equity investments.

Mr Geaney, former [[w:Élan|Élan]] CEO, has pursued a policy of [[w:diversification|diversification]] since February of this year, with the stated aim of placing a larger amount of the funds assets in companies with small market capitalizations and in property funds.

The fund was set up by the [http://www.ucc.ie/law/irlii/statutes/2000_33.htm#z1 National Pensions Reserve Fund Act, 2000] to partially meet the expected rise in Irish pension costs from 2025 onwards.

==Sources==

*{{source|url=http://breakingnews.iol.ie/news/story.asp?j=140716390&p=y4x7y7x96| title=Pension reserve has 2.4% Q1 return | author= |pub=Ireland Online|date=April 22, 2005}}
*{{source|url=http://www.rte.ie/business/2005/0422/pensions.html| title=Pension fund delivers 2.4% return in Q1 | author= |pub=RTE News|date=April 22, 2005}}
*{{source|url=http://www.businessworld.ie/livenews.htm?a=1156206;s=rollingnews.htm| title= Pensions Reserve hits 2.4pc return in Q1 | author= |pub=Business World|date=April 22, 2005}}
 
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[[Category:Europe]]
[[Category:Ireland]]
[[Category:Economy and business]]
[[Category:Published]]
Ireland's National Pensions Reserve Fund (NPRF) has posted a 2.4% return for the first quarter (9.6% annualized). On March 31, the funds value stood at €12.3bn, a rise of €290m (excluding state contributions) since December 31.

Donal Geaney, the fund's chairman, told the press that growth in the past quarter had been driven by the Fund's European equity investments.

Mr Geaney, former Élan CEO, has pursued a policy of diversification since February of this year, with the stated aim of placing a larger amount of the funds assets in companies with small market capitalizations and in property funds.

The fund was set up by the  National Pensions Reserve Fund Act, 2000 to partially meet the expected rise in Irish pension costs from 2025 onwards.
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