Juan H. Foxley
Financial risk consultant for Central banks and Official institutions
June 14, 2017
Reserve managers move to equities
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the question arises as to why the investment tranche (which functions as a long-term investment tool for capital gains purposes) has such large exposure to passive fixed income and cash products. If the investment tranche is designed to produce extra yield in relation to standard bond portfolios, such an allocation seems ineffective. ¨
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