The seminar offers Banca d'Italia's point of view on the portfolio management framework in a central bank. It is designed to broaden the investment knowledge of central bankers and share the experience of Banca d'Italia as a reserve manager. The seminar focuses on all the phases of the investment process (asset allocation, investment activity and risk measurement) and highlights the main differences with respect to the approach of other institutional investors. Specific sessions are dedicated to examining the key technical aspects of the investment activity run within the Bank.
The current investment management framework is presented in connection with the evolution of financial markets and monetary policy decisions over recent years, with a special focus on the main changes introduced in the wake of the pandemic. The seminar will also highlight the increasing relevance of environmental, social and corporate governance (ESG) criteria and climate-related considerations in financial markets, describing how ESG principles are integrated in Banca d'Italia's investment process. The program also covers topics such as risk measurement, market infrastructure, and investment services offered to third parties. In terms of currencies, the emphasis is on developments in US dollar and euro asset markets, particularly those in which reserve managers are most active. Beyond the technical information covered, the seminar's collegial environment is expected to offer extensive opportunities for networking.
