The National Pensions Reserve Fund has shown an increase of 5.9% in the first nine months of this year, despite a drop of almost 1% in the third quarter.
The fund, set up to help meet the cost of social welfare and public service pensions after 2025, was worth €21.26 billion at the end of September.
The chief executive of the National Treasury Management Agency, which manages the fund, described the performance as 'solid', in the light of the volatility in global markets in Q3.
Dr Michael Somers warned that global investment markets had become more volatile, and tighter credit conditions could lower growth in the bigger world economies, affecting company earnings.
During the three months from June to September, the fund committed €156m to three private equity investment vehicle and €35m to a property investment vehicle. The private equity component included its first to an Irish venture capital fund - €15m to Delta Equity Fund III.
