By Kate Allen, includes “The World Bank is best known as a lender to emerging economies, but what is less widely appreciated is its substantial role as an asset manager — just one part of a much broader remit it has adopted in recent years. … The bank, which was set up to fund postwar reconstruction in Europe, handles $184bn of assets for 65 clients including sovereign wealth funds, pension funds and central banks and manages a $567bn derivatives portfolio. … This expansion of its activity has not been universally well-received, however. …”
Read the full article on: Financial Times