Yes we do indeed have a “sovereign wealth fund” – it’s the National Pension Reserve Fund which was raided by then-finance minister Brian Lenihan in 2009 and 2010 to shore up the banks, and over 24 months we depleted a €25bn fund which was supposed to cushion the future effect of pension commitments in the State. As a wealth fund, the NPRF invests in a range of products, from stocks and shares to more exotic products including property funds.
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