Central banks will accelerate rise of the renminbi, OMFIF report reveals
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OMFIF’s eighth annual Global Public Investor finds the renminbi is on course to become a much more influential part of the global financial system as central banks add the Chinese currency to their reserve assets. The impact of Covid-19 and low interest rate environment has prompted a fundamental shift in asset and currency allocation plans of many of the world’s most influential investors.
OMFIF surveyed more than 100 GPIs – central bank reserve managers, sovereign funds and public pension funds – on their asset allocation strategies, investment approaches and market trends. The 2021 edition examines how central banks are embracing riskier assets, new currencies, and a more holistic understanding of asset ownership, drawing on a new dataset of over 100 sovereign investors.