Courts Service bid to ease fears over €1bn investment

THOUSANDS of vulnerable people have received a reassurance from the Courts Service that €1 billion it invested on their behalf has escaped the worst of the worldwide stock market turmoil.

The service manages the money for more than 20,000 people, made up of people who are wards of court for reasons of psychiatric illness or abandonment or children awarded damages in civil actions.

The fund stands at €932 million and although growth has dropped close to zero, investments outside the stock market have balanced out the effects of the crash.