Mairéad Farrell
Question:25. Deputy Mairéad Farrell asked the Tánaiste and Minister for Finance the value of the ISIF’s holdings in a company (details supplied); and if he will make a statement on the matter. [48317/26]
View answerThursday, 25 June 2026
Questions (25)
Written answers
The National Treasury Management Agency (NTMA) has informed me that the Ireland Strategic Investment Fund (ISIF) publishes details of individual investments in their Annual Report each year. The most recent annual report is for the year ended December 2024 and reported that ISIF had a holding valued at €950,000 in Palantir Technologies.
The Ireland Strategic Investment Fund portfolio is constructed within the legislative framework set for it by the Oireachtas. The NTMA (Amendment) Act 2014, sets out ISIF’s mandate with regard to the investment of the assets of the Fund other than directed investments.
Under the Act the Agency has responsibility for determining, monitoring and keeping under review an investment strategy for the Fund (other than directed investments) in accordance with the investment policy for the Fund.
Under the Act, the NTMA, as controller and manager of the ISIF, is also required to consult with the Ministers for Finance and the Minister for Public Expenditure, NDP Delivery and Reform in determining and reviewing ISIF’s investment strategy.
Following the development of its draft investment strategy and after consultation with Ministers, the NTMA adopted a Sustainability & Responsible Investment Strategy (S&RIS) in 2020. This was updated in 2023 and reflects a commitment to be a responsible investor as steward of public assets by protecting and enhancing both the long-term value of the ISIF. Along with the reputation of the NTMA in how it delivers its mandate, as manager and controller of the ISIF.
In this context ISIF operates an exclusion policy with exclusion used on a limited basis, reflecting exclusions mandated by legislation (such as the Fossil Fuel Divestment Act 2018 or the Cluster Munitions and Anti-Personnel Mines Act 2008) and, inter alia, exclusions on a non-statutory basis on sustainable investment grounds including Tobacco, Nuclear Weapons and certain companies on the UN Database.
Specifically as regards the UN Database, ISIF has divested from six companies, all of which remain on the UN Database as last updated in September 2025, with a total value at the time of the divestment decision of approximately €2.95m. The six companies were Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank Ltd; Mizrahi Tefahot Bank Ltd; First International Bank Ltd and Rami Levi Chain Stores Ltd.