Reserve management enters a new phase

While diversification remains a priority, economic fundamentals are once again taking precedence in investment decisions as central banks navigate a more fragmented global landscape. Max Castelli, head of strategy for sovereign institutions, and Philipp Salman, director of strategy for sovereign institutions at UBS Asset Management, join Yara Aziz, senior economist at OMFIF, to unpack the main takeaways from UBS’ 32nd Reserve Management Seminar. They discuss why economic fundamentals are returning to the centre of reserve management, what geopolitics means for investors, and how central banks are thinking about diversification, the dollar and gold.