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Boost for reserve fund

THE National Pension Reserve Fund (NPRF) scraped through a profit in the third quarter of the year.

Although equity markets performed poorly, the fund's return was due to "an underweight allocation to equities and to the positive effect of the two-year equity index put options", the NPRF said. The NPRF has been split into a "directed" portfolio of €9.6bn and a "discretionary" portfolio worth €5.3bn.