Colombia culls external reserve manager to boost competition

In the period 2016-18, central bank reduced the number of institutions to six from seven

Central Bank of Colombia, Bogota

The Central Bank of Colombia has cut the number of external asset managers handling its international reserves portfolio in a bid to foster greater returns.

In December 2018, the institution worked with six asset managers, down from seven in December 2016, says the central bank’s twice-yearly report on international reserves management published on January 17. It cut one asset manager whose performance the central bank deemed weaker than the rest. 

The cut did not entail a meaningful reduction

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