Pensions conference Shelbourne Hotel
This is despite the massive falls the fund has experienced over the last two years.
In a speech to the World Pension Association Annual Conference at the Shelbourne Hotel, Donal Geaney said today that the fund, which was set up by the Minister for Finance to fund future state pensions requirements, has already lost €1 billion through its stock market investments.
In January, the NPRF said the Government had invested nearly €8.2 billion in the fund, but there was a shortfall of €763m due falling markets.
The shortfall is understood to be of a similar nature today, despite the fact that the Government put in another €275m in March.
Currently the fund has 55% of its money invested in equities, 20% in Government bonds, with the remainder held in cash.
It is understood the Government bond investments have made a 14% return so far, meaning that stock market losses are more extensive than first thought.
Donal Geaney said he was confident the fund was well placed to cope with bouts of stock market weakness.
He said the fund's decision to gradually invest the money in stock markets over a longer time period had helped mitigate the worst effects of falling markets.
Mr Geaney said that last year the fund lost 16% of its value compared to a 19% fall in the average Irish managed pension fund, and a 30% fall in world stock markets.
