‘Greater potential for domestic insurance and pension funds to invest in economy’

There is much greater potential for domestic insurance and pension funds to invest in the Irish economy in an effort to help the overall recovery, Department of Finance secretary general John Moran told the Irish Life pensions conference.

Only 33% of domestic policyholder funds were invested in Irish assets at the end of 2010. The percentage of pension scheme funds invested in Irish assets was much lower, said Mr Moran.

“If there is an increase in the level of domestic funds investing in Irish Government bonds, then it will make a more compelling case why international investors should take a punt on government debt, he said. “Moreover, it seems to me to be in everybody’s interests that we create investment so that the economy can grow and allow for a better standard of living for society as a whole.”