HSBC Reserve Management Trends - Risk Books
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HSBC Reserve Management Trends 2018

By Robert Pringle and Nick Carver


  • > What risks concern managers of central bank foreign exchange reserves?

  • > How will they alter their portfolios?

  • > What markets and currencies are they looking to invest in?

  • > How will Blockchain-related technologies impact official investment?

These are major questions for the world's markets.

And they are major questions facing the managers of the official sector's more than $10 trillion-worth of assets.

Perhaps that's why reserve managers from more than 75 of the world's central banks have trusted Central Banking Publications with their views on such sensitive issues.

These questions form part of HSBC Reserve Management Trends 2018: a new book and exclusive industry survey from Central Banking Publications.

The answers may surprise you.

Publish date: 16 Apr 2018

Availability: In stock

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HSBC Reserve Management Trends 2018

Book description

The survey analyses results from reserve managers around the world and reports their views in detailed verbatim comments. It addresses:

  • Significant risks in 2018
  • Active vs passive management
  • Duration changes
  • Currency allocation
  • Credit rating thresholds
  • Performance enhancement
  • New asset additions
  • What limits diversification
  • Environment and social governance (ESG)
  • Views on renminbi
  • Attractive asset classes
  • Equities, corporate bonds, emerging market bonds and alternatives
  • Internal vs external management
  • Custody and manager fees
  • Blockchain-related technologies

At a time of shifts in global markets and significant FinTech driven change, both public and private sector investors alike will look to the views of reserve managers.

HSBC Reserve Management Trends 2018 also features exclusive contributions from industry experts on risk budgeting, rebuilding reserves, the future of custody and performance measurement.

Now in its 14th year, HSBC Reserve Management Trends 2018 remains the only independent, annual publically available survey of official sector reserves.

It is the survey reserve managers take part in. And the survey results, they themselves use and trust.

Book details

Publish date
16 Apr 2018
230mm x 280mm

Author biography

Robert Pringle and Nick Carver

Editor, Robert Pringle, is Chairman of Central Banking Publications. Before starting Central Banking, Robert was for several years Editor of The Banker and subsequently he was closely associated with the establishment of the well-known "think tank", the Group of Thirty, where he served for seven years as the first Executive Director based in New York. He was also for three years a Senior Fellow at the United Nations institute called WIDER in Helsinki.

Nick Carver is the publisher of Central Banking Publications, which he joined as an editorial assistant in 2001. He was assistant editor of Central Banking journal for five years and has co-edited (with Robert Pringle) Central Banking Publications’ annual Reserve Management Trends publication since its launch in 2005. He is also the publisher of Risk Books and Risk Journals, two long-established imprimaturs of Incisive Media, which acquired Central Banking Publications in 2007. He graduated with a master’s degree in economics and politics from the University of Edinburgh and taught English in Japan for two years before joining Central Banking Publications.

Table of contents

About the authors


Executive summary

1. Trends in reserve manage - 2018 survey results - Nick Carver and Emma Glass

2. Denmark's move to a holistic and dynamic risk budget - Jacob Wellendorph Ejsing and Morten Kjaergaard

3. Custody in 2025: a primer for reserve managers - John van Verre and Jane Karczewski

4. Assessing sources of excess return: style analysis for active investing - Eduardo Hoyo Castro, Fernando Torres and Carlos Alvarez

5. The role of reserves in Iceland's post-Crisis recovery - Sturla Palsson

6. Interview: Solomon Kavuma - Nick Carver

Appendix 1: Survey questionnaire

Appendix 2: Survey responses and comments

Appendix 3: Reserve statistics

Customer Reviews

Average customer reviews for HSBC Reserve Management Trends 2018
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