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Updated: 17:02, Thursday, 27 June 2002
It has been revealed that the new National Pension Reserve Fund, set up by Minister for Finance, Charlie McCreevy, has suffered equity investment losses of up to €400 million because of the current turbulence in markets.
The agency which handles the Fund has revealed that, so far this year, it has invested €5.6 billion of the €8 billion contained in the fund mainly in Eurozone and US equities.
Pension experts say that an average of 10% has been lost by pension funds this year to date.
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