Ireland Strategic Investment Fund announces new investment strategy to focus on 5 key priority themes and publishes update on 2018 investment performance

Friday 1st February 2019

The Ireland Strategic Investment Fund (ISIF), managed by the National Treasury Management Agency (NTMA), has today announced a revised investment strategy, guided by the objectives of Project Ireland 2040, to target its future investments in five sectors or priority themes of key importance to the Irish economy:

In addition, the Fund will continue to pursue investment opportunities that are suitable for its Connectivity Fund sub-portfolio, which includes existing investments in airport and port infrastructure and projects that enhance Ireland’s global data and IT connectivity.

The Fund will also maintain flexibility to selectively take advantage of compelling opportunities which are consistent with the Fund’s mandate and do not fit under the priority themes.

The new strategy follows a scheduled review of the Fund last year and maintains its “double bottom line” mandate to generate a commercial return and support economic activity and employment in the State.

Details of the new strategy were announced at ISIF’s 6th annual market engagement event, which took place at Convention Centre Dublin today and was attended by over 600 businesspeople, investors, project promoters and advisors.

ISIF Director Eugene O’Callaghan said:

“Our new focused strategy takes account of the significant progress made in the Irish economy and investment climate since ISIF opened for business, and the fact the opportunities and challenges facing the Irish economy in 2019 are very different to those of 2014.

Our plans will ensure that ISIF is well placed to invest across the priority themes and to deliver on our ‘double bottom line’ mandate. We will seek to use the Fund’s characteristics of scale, flexibility and long-term timeframe to deliver investment returns while also having impact that ‘makes a difference’ in the Irish economy.

It will be important for ISIF to contribute to the wider development of the Irish economy and also to be the investor of choice for ambitious companies and projects that can use ISIF and co-investor capital to drive their long-term sustainability and success.”

Minister for Finance and Public Expenditure and Reform, Paschal Donohoe TD, said:

“I welcome the launch today of the ISIF Investment Strategy 2.0, which is the culmination of a review of ISIF’s strategy commenced by my Department in 2017. It has resulted in ISIF transitioning from a broad investment strategy to one with a focus on priorities that will support the Government’s Project Ireland 2040. Under the new strategy, ISIF will now target the delivery of a €3 billion 5-year investment programme which will focus on the key areas of regional development, housing supply, indigenous industry, and projects to address climate change and sectors with the potential adversely affected by Brexit. I wish the ISIF team every continued success in striving to support growth and employment in Ireland over the coming five years.”

Key elements of new strategy:

Update on ISIF investment performance in 2018

To coincide with today’s event, ISIF published an update on its investment performance in 2018 alongside its latest half-yearly Economic Impact Report.

Key points of the update and Economic Impact Report include:

Speakers at today’s event included:

Ireland Strategic Investment Fund