# Governments Pension Reserve



## zztop (13 Oct 2008)

Is the billions in this reserve an account reserve or is it
invested? and therefore depleted.A coffee break question
that nobody could put a definitive answer on.


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## Towger (13 Oct 2008)

B and some of it in places like Zimbabwe!


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## LDFerguson (13 Oct 2008)

zztop must start early if the coffee break is at 9.


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## rmelly (13 Oct 2008)

LDFerguson said:


> zztop must start early if the coffee break is at 9.


 
or maybe public sector?


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## zztop (13 Oct 2008)

Maybe those public sector organisations in the UK who
invested in Icelandic banks were on a 9am coffee break.
Q arose on Friday and couldnt see any mention in the
Sunday papers.
Still no answer.


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## Protocol (13 Oct 2008)

Are you referring to the National Pensiopn Reserve Fund?



This is how investments are spread across assets:


*Target NPRF Strategic Asset Allocation (end 2009)*



*% Asset Allocation*
Large Cap Equity56
Small Cap Equity5
Emerging Markets Equity5
Total Quoted Equity
*66*
Private Equity10*
Property8
Commodities2
Total Additional Assets
*20*
Bonds13
Currency Funds1
Total Financial Assets
*14*
*including a 2% allocation to infrastructure


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## rmelly (13 Oct 2008)

If your question is whether the money is invested or sitting earning interest, then see below:

http://www.finance.gov.ie/viewdoc.asp?fn=/documents/news/june/mcc655pr.htm

http://www.finfacts.ie/irishfinancenews/article_1014166.shtml



> The National Pension Reserve Fund Commission’s investment mandate, as set out in Section 19 of the National Pensions Reserve Fund Act, 2000, provides that the Fund shall be invested so as to secure the optimal financial return provided the level of risk to the moneys invested is acceptable to the Commission. The mandate is not qualified by any ethical investment criteria.


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## Protocol (13 Oct 2008)

*National Pensions Reserve Fund
Quarterly Performance Statement
30 June 2008*



*1. Fund Performance*


1st April to 30 June 2008
-1.7%
1st January to 30 June 2008
-12%


*2. Fund Asset Allocation at 30 June 2008*


 Euro (millions)%Large Cap Equity11,988
61.6
Small Cap Equity765
3.9
Emerging Markets Equity 361
1.9
Total Quoted Equity
*13,114*
*67.4*
Private Equity459
2.4
Property764
3.9
Commodities376
1.9
Total Alternative Assets
*1,599*
*8.2*
Fixed Income3,214
16.5
Currency and GTAA Funds 236
1.2
Cash 1,299
6.7
Total Financial Assets
4,749
24.4
Total Net Assets
19,462
100.0


*Notes:*



Figures are unaudited.


Asset allocation is based on amounts allocated to each investment manager and includes cash and other nets assets held by them.


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.


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## zztop (13 Oct 2008)

Thank you.I can go to my coffee a lot wiser.Wonder will I have
to pay for it


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## Maximus152 (13 Oct 2008)

rite well I can't enjoy my coffee, just a simple answer would have done! Like yes it can be depleted due to volitile investments or no it can be as it is held in bonds ... so garunteed so which is it!


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## z109 (13 Oct 2008)

Maximus152 said:


> rite well I can't enjoy my coffee, just a simple answer would have done! Like yes it can be depleted due to volitile investments or no it can be as it is held in bonds ... so garunteed so which is it!


75.6% is in volatile assets (equities, property or equity-like investments).
24.4% is in fixed assets (bonds) or cash.

Happy now? (Do you think every question comes down to a yes/no answer?).


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## zztop (13 Oct 2008)

75% vs 25%,excellent reply Yogan.Come on the Faithful County


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## Maximus152 (13 Oct 2008)

Yogan,
well thats the kinda answer I personally can deal with, 25 % / 75% simple and to the point . Not every question, but perhaps if we could get our politicians and banking elite to give us yes/no short concise answers we would all be a little more clued it as to what is going on, what caused it and how to get over it.


Because Im worth it

Maximus152


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## z109 (13 Oct 2008)

zztop said:


> Come on the Faithful County


Sadly, I'm a Dub migrant.

Still, I'm working on my farmers tan...


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