SHAREHOLDERS' eyes are smiling on Irish Investment, the top performing single country international fund in 1995 according to a survey of US mutual funds. The 569 million (£43.66 million) closed end fund gained 39 per cent in the year. Its nearest rival in the category was France Growth (up 29 per cent).

The fund invests only in Irish companies or in companies affected by developments on the island. As a consequence, the fund has benefitted from the strong economic performance of the past two years.