Half of reserve managers use bespoke index benchmarks
Those using external managers can choose bespoke, but public indexes remain predominant
Publicly available bond and equity indexes are the main tools used by reserve managers to benchmark their reserves, but central banks with larger portfolios also use bespoke indexes.
Almost three-quarters of central bank reserve managers use publicly available indexes to benchmark their reserve portfolios, while just over half use bespoke indexes. Benchmarking tends to be carried out for all assets and investment strategies.
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