Pension Reserve Fund has 2.4% lift
The fund was worth €12.3 billion at the end of March, an increase of over €600 million. The Government contributed €330m from tax receipts to the fund during the quarter, while investment returns delivered €290m.
NPRF commission chairman Donal Geaney said first quarter returns were driven by the fund's investments in European shares. The performance of non-European equities was boosted by a minor rally in the US dollar.