© 2018

Advances in the Practice of Public Investment Management

Portfolio Modelling, Performance Attribution and Governance

  • Narayan Bulusu
  • Joachim Coche
  • Alejandro Reveiz
  • Francisco Rivadeneyra
  • Vahe Sahakyan
  • Ghislain Yanou
  • Presents research and analysis around topics of interest to public investment managers, such as sovereign wealth funds, foreign reserves, and public pension funds

  • Discusses the latest developments in the management of public funds

  • Summarizes the work presented at the 6th annual Public Investors Conference, jointly organised by the BIS, World Bank and the Bank of Canada


Table of contents

  1. Front Matter
    Pages i-xxviii
  2. Foreign Reserves Management Strategies: Implementation, Performance and Governance

  3. Asset Allocation and Interest Rate & Credit Risk Environment

    1. Front Matter
      Pages 101-101
    2. Jacob Bjorheim, Joachim Coche, Alex Joia, Vahe Sahakyan
      Pages 103-129
    3. Joachim Coche, Mark Knezevic, Vahe Sahakyan
      Pages 131-159
    4. Marcelo Yoshio Takami
      Pages 161-213
  4. Portfolio Construction

    1. Front Matter
      Pages 245-245
    2. Santiago Alberico, Joachim Coche, Vahe Sahakyan, Omar Zulaica
      Pages 247-274
    3. Marie Brière, Ariane Szafarz
      Pages 291-309
  5. Asset Classes for Public Investors

    1. Front Matter
      Pages 311-311
    2. Claudio Raddatz, Sergio L. Schmukler, Tomás Williams
      Pages 313-340
    3. Gabriel Petre, Olga Sulla, Daniel Vela Barón
      Pages 341-367
    4. Jianjian Jin, Francisco Rivadeneyra, Jesús Sierra
      Pages 369-391
  6. Back Matter
    Pages 393-394

About this book


This book covers the latest advances in the theory and practice of public investment management. It includes the most up-to-date developments in the implementation of public asset management – including multiple contributions on portfolio allocation in varying interest-rate and credit-risk environments. Other highlights include implementation, performance attribution and governance issues surrounding reserves management, portfolio construction techniques appropriate for public investors and an in-depth discussion of the challenges to achieving international diversification.


Investment Management Sovereign Wealth Funds Foreign Reserves Management Pension Funds Fund Governance Investment Performance Measurement Dynamic Asset Allocation Active Management International Asset Management Term-Structure Modelling Factor-Based Asset Management Asset Return Correlation investments and securities

Editors and affiliations

  • Narayan Bulusu
    • 1
  • Joachim Coche
    • 2
  • Alejandro Reveiz
    • 3
  • Francisco Rivadeneyra
    • 4
  • Vahe Sahakyan
    • 5
  • Ghislain Yanou
    • 6
  1. 1.Bank of CanadaOttawa, ONCanada
  2. 2.Bank for International Settlements (BIS)BaselSwitzerland
  3. 3.Finance DepartmentInter-American Development BankWashington, DCUSA
  4. 4.Bank of CanadaOttawa, ONCanada
  5. 5.Bank for International Settlements (BIS)BaselSwitzerland
  6. 6.World BankWashington, DCUSA

About the editors

Narayan Bulusu is a Principal Researcher in the Funds Management and Banking Department at the Bank of Canada.

Joachim Coche is Head of Financial Analysis at the Bank for International Settlements (BIS).

Alejandro Reveiz is the Head of Treasury Middle Office and Banking at the Inter-American Development Bank (IDB).

Francisco Rivadeneyra is a Research Advisor in the Funds Management and Banking Department at the Bank of Canada.

Vahe Sahakyan is an Asset Management Specialist in the Banking Department at the Bank for International Settlements (BIS).

Ghislain Yanou is an Investment Officer in the Quantitative Solutions, Strategic Asset Allocation and Analytics (QSA) Department at the World Bank Treasury.

Bibliographic information

  • Book Title Advances in the Practice of Public Investment Management
  • Book Subtitle Portfolio Modelling, Performance Attribution and Governance
  • Editors Narayan Bulusu
    Joachim Coche
    Alejandro Reveiz
    Francisco Rivadeneyra
    Vahe Sahakyan
    Ghislain Yanou
  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2018
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance Economics and Finance (R0)
  • Hardcover ISBN 978-3-319-90244-9
  • Softcover ISBN 978-3-030-07972-7
  • eBook ISBN 978-3-319-90245-6
  • Edition Number 1
  • Number of Pages XXVIII, 394
  • Number of Illustrations 74 b/w illustrations, 6 illustrations in colour
  • Topics Investments and Securities
    Personal Finance/Wealth Management/Pension Planning
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking