Lithuanians pick World Bank to manage portion of assets

bank-of-lithuania
Bank of Lithuania

Lithuania's central bank has chosen the World Bank to manage $300 million of its assets – the first time it has awarded an asset management mandate to any external organisation.

The fund managed represents about 7% of the Bank of Lithuania's total assets "not related to monetary policy operations", the Bank of Lithuania said in an official statement.

It took the step "due to the extraordinary low (or negative) interest rate environment", Marijus Kalesinskas, director of the bank‘s Investment Man

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