Ireland's sovereign wealth fund outperformed stock markets in 2020, returning more than the Iseq index of Irish shares and the broader Euro Stoxx index. The Ireland Strategic Investment Fund (ISIF) increased in value by 6.2pc in 2020, adding more than €500m to the total size of the fund, according to annual investment figures published by the National Treasury Management Agency (NTMA). The €2bn of ISIF's €8.6bn discretionary fund has been deployed as Pandemic Stabilisation and Recovery Fund (PSRF) to help support the Irish economy and preserve jobs. Another €600m is in the pipeline, mainly aimed at funding the recovery rather than stabilising companies, according to NTMA CEO Conor O'Kelly. ISIF is in line for further cash distributions from its 10.88pc stake in Malin, the listed life sciences investment company.

Source: Irish Independent February 08, 2021 17:57 UTC