Colombia culls external reserve manager to boost competition
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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