THE annual general meeting in July of First Ireland Investment Company, the investment fund set up seven years ago to invest in Irish equities, will decide whether to keep the fund in operation or wind it up and distribute the proceeds to shareholders. Ahead of the a.g.m., Merrill Lynch has been appointed to advise on the options.

The results show that for the year to March 1997, First Ireland had net earnings per share of 2.2p on its enlarged share capital. The net asset value of the company increased by 24.4 per cent, slightly ahead of the rise in the ISEQ Overall Index in the same period.