The National Pensions Reserve Fund (NPRF) has made a 7.5% return in the first five months of this year following a strong performance by stock markets in April and May.
This followed a return of just 1.8% in the first quarter, when world markets fell sharply on concerns about the Chinese stock market.
A statement from the fund said its total value at the end of May was €20.75 billion.
Its annual report, published today, shows that the NPRF gained 12.4% in value last year. The fund is also aiming to reduce the percentage of funds invested in large companies from 63% to 56%, while increasing the proportion it puts into smaller companies and emerging markets.
The Government invests 1% of GNP in the fund each year. The fund was set up in 2001 to help meet the costs of pensions from 2025 onwards.
