External asset manager use on the rise
Central banks in upper-middle income countries allocated higher share of reserves to external managers
More central banks report working with external managers in their reserve portfolios, according to the Reserve Benchmarks 2021.
Three-quarters of respondents said they use external asset managers, up from 69% last year.
In fact, there is evidence that central banks in upper-middle income countries have increased the proportion of reserves allocated to external asset managers. The average proportion of reserves externally managed in this income group more than doubled from 9.3% to 20.3% over
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