This will necessitate SAA processes that are vigilant and rigorous. Old and trusted assets are not yielding returns and some are even eroding capital. New instruments and assets that fall within the familiar and accepted investment universe are not plentiful.
BIS central bankers’ speeches  5  Reserves managers must keenly evaluate factors such as investment time horizons, what constitutes and acceptable risk-return balance, what role alternatives should play alongside traditional asset classes, and whether our traditional benchmarks still fit it in with new strategies.