The Irish National Pensions Reserve Fund suffered losses of -29.5%in 2008. These losses continued on into the 1st quarter of 2009 where it experienced a -6.7% loss. However, in the 2nd quarter of 2009 it posted a positive return of 1.3%. Likewise, the oscillating fortunes of the French Fond de Reserve pour les Retraites tells a similar story; albeit perhaps a little less drastic. In 2008 the fund experienced a loss -24.8% on its returns, and in the 1st quarter of this year again it suffered a loss of -6.5%. It was not until the 2nd quarter of 2009 that it delivered a positive 10.5% return. As to the authenticity of this apparent recovery, it would be a little premature to present this as unequivocal fact until more time has passed.

Sources

ISSA, (June, 2009). ISSA Survey: Social Security Responses to the Financial Crisis .   www.issa.int/aiss/News-Events/News/ISSA-Survey-Social-security-responses-to-the-financial-crisis

The Irish National Pensions Reserve Fund (March, 2009). National Pensions Reserve Fund
Quarterly Performance Statement 31.03.2009. www.nprf.ie/Performance/performance1Qtr09.htm

The Irish National Pensions Reserve Fund (June, 2009). National Pensions Reserve Fund
Quarterly Performance and Portfolio Update 30.06.2009. www.nprf.ie/Performance/performance2Qtr09.htm

Fond de Reserve pour les Retraites (2009) Portfolio performance: Assets & Performances as of 30.06.2009. www.fondsdereserve.fr/spip.php?article194

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