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Thu 07 Jul 2008Value of National Pensions Reserve Fund drops 12%
The National Pensions Reserve Fund (NPRF), which was set up by the Government to fund future State and public service pensions, lost 12 per cent of its value - about €1.7 billion - in the first half of the year due to the ongoing turmoil in global equity markets.
The NPRF said the "disappointing" performance reflected "the challenging conditions that have marked 2008" as global equity markets felt the combined impact of the credit crunch and the rising price of commodities.
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