ISIF’s Irish portfolio beats global fund on returns in H1

first_imgSince inception in 2014, the overall return was 2.3% at the end of June 2018, it reported.Rather than aiming solely for wealth creation, ISIF has a “double bottom line” objective, whereby it targets investment returns as well as economic impact.By the end of June 2018, ISIF reported a total of €3.8bn of committed capital, which it said had unlocked an additional €6.6bn from co-investors, leading to a total of €10.4bn in capital commitments.The ISIF welcomed the finalisation of its investment strategy review, which it said “takes account of the risks that may be posed by economic overheating and the appropriateness of ISIF’s investment mandate given our current economic performance”.The fund’s double bottom line mandate is not being changed in the review, but in the light of strong economic conditions, it is now to focus on priorities to support “Project Ireland 2040” — a national development plan unveiled in February.This new focus is directed at five key themes: housing, indigenous industry, regional development, Brexit, and climate change.ISIF’s total fund value was €8.7bn at the end of 2017. The Ireland Strategic Investment Fund (ISIF) suffered a 1.3% loss on its global portfolio of investments between January and June, while its Irish portfolio made a positive 2.7% return in the period, according to its update for the first half of the year. The sovereign development fund also detailed plans for a strategy rejig in the report, which will see the ISIF shifting its domestic focus to five key themes from now on, away from its hitherto general cross-sectoral approach to investment in Ireland.Overall, ISIF, which was born out of the former National Pensions Reserve Fund, made a 0.3% loss on investments in the first half of this year when returns from the global portfolio and Irish portfolio are combined.In the full year 2017, the fund made a 4.3% overall investment return, composed of a 4.1% gain on its global portfolio and 4.5% on the Irish portfolio. last_img read more

Royals through to women’s POMRFL grand final

first_imgA crowd of over 200 turned up to watch the finals played in the blistering heat of the nation’s capital.The Panthers hit the lead after only the first minute when Angela Parao crashed over on the wing.Royals hit back twice in as many minutes and on the same wing with tries to Vero Waula and Naomi Kaupa.Unsuccessful conversions put the score at 8-4.The scores were tied at 8-8 thanks to Parao who scored her second for the game shortly before the half time whistle.Panthers wasted no time from the kick off in the second half as halfback Vasiti Meles worked her magic to get over the line.Just like Royals, the Panthers kicking game was off and an unsuccessful conversion left the score at 12-8.But Royals were not to be outdone and once again leveled up through Waula who bulldozed her way over to score her second try.Both sides tried desperately to break the deadlock but to no avail bringing the game into extra time.A try in the first half of extra time and the second half of extra time secured the win for Royals.A try right on the final whistle to the Panthers made no difference to the outcome.Royals will meet Souths in the women’s grand final.last_img read more