ISIF 2022 Mid-Year Update including FY 2021 Economic Impact Report (Ireland Strategic Investment Fund (ISIF))

Summary

• Despite market volatility in H1 2022, ISIF invested over €396M in high-quality Irish businesses and projects.p.3
• ISIF has generated investment gains of €2.1 BN since inception.p.4
• €285M has been approved to climate-related investments since Sept 2021 under the €1bn 5 year climate action investment programme.p.4
• ISIF supported 39,686 jobs as at FY 2021.p.4
• The €9.0BN portfolio at end H1 2022 is split into equity €3.6BN, fixed income €1.9BN, absolute return €1.4BN, real assets €1.1BN and cash €1.0BN.p.6
• ISIF returned -5.8% in the first half of 2022 and has approved a further €477M in investments.p.8
• FY 2021 Gross Value Add was €1.53 BN, turnover was €3.78 BN and exports were €1.03 BN.p.9

Key insights

1. ISIF is pushing ahead with a €500M investment programme in Ireland's 5 regional cities.p.3
2. ISIF provided a €200m debt facility to support connectivity and recovery.p.5
3. A €50m commitment was made to a fund addressing liquidity and investment capital requirements due to Covid-19 across the Irish hotel sector.p.5
4. A €24m follow-on investment was made to part finance the development of a film studio campus in Greystones.p.5
5. Jobs supported fell by 2,564 year on year, while the wage bill was €1.25 BN.p.9
6. Further private investments are likely to be marked lower in H2 given continued market turmoil.p.8