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Sovereign Wealth Funds Briefing - Categorized | Financials

Philippines should divert reserves to form a SWF, says BSP’s Medalla

Posted on 24 July 2014

The increasing level of political and economic stability in the Philippines means the country’s central bank should move a portion of its reserves into a sovereign wealth fund (SWF) based on a pension-fund model, according to Felipe Medalla, member of the monetary board of the Central Bank of the Philippines (BSP).
The BSP has reserves of $80 billion, equivalent to about one third of the country’s GDP. These assets are managed on a conservative basis, primarily invested in highly rated sovereign paper. Medalla said that in addition to looking to invest in higher yielding assets, the central bank should consider moving a portion of its assets into a SWF……………………………………….Full Article: Source


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