§16§This book covers the latest advances in the theory and practice of public investment management. It includes the most up-to-date developments in the implementation of public asset management - including multiple contributions on portfolio allocation in varying interest-rate and credit-risk environments. Other highlights include implementation, performance attribution and governance issues surrounding reserves management, portfolio construction techniques appropriate for public investors and an in-depth discussion of the challenges to achieving international diversification.§§ §04§§Part I Foreign Reserves Management Strategies: Implementation, Performance and Governance.- 1. Hedging Potential Liabilities of Foreign Reserves Through Asset Allocation.- 2. Setting the Appropriate Mix Between Active and Passive Management in the Investment Tranche of a Foreign Reserves Portfolio.- 3. A New Fixed-Income Fund Performance Attribution Model: An Application to ECB Reserve Management.- 4. Sovereign Wealth Fund Investment Performance, Strategic Asset Allocation, and Funding Withdrawal Rules.- Part II Asset Allocation and Interest Rate 〓04§set Allocation: Stronger Together?.- Part IV Asset Classes for Public Investors.- 12. The Impact of Benchmark Investing by Institutional Investors on International Capital Allocations.- 13. Equity Markets Integration and Active Portfolio Management.- 14. Government Bond Clienteles and Yields.§§§ §02§§§§Narayan Bulusu is a Principal Researcher in the Funds Management and Banking Department at the Bank of Canada. §§Joachim Coche is Head of Financial Analysis at the Bank for International Settlements (BIS).§§Alejandro Reveiz is the Head of Treasury Middle Office and Banking at the Inter-American Development Bank (IDB).§§Francisco Rivadeneyra is a Research Advisor in the Funds Management and Banking Department at the Bank of Canada. §§Vahe Sahakyan is an Asset Management Specialist in the Banking Department at the Bank for International Settlements (BIS). §§Ghislain Yanou is an Investment Officer in the Quantitative Solutions, Strategic Asset Allocation and Analytics (QSA) Department at the World Bank Treasury. §§§§
