Public asset managers are tasked with safeguarding and growing national financial assets entrusted to them. Managing these assets prudently and efficiently fosters economic stability and growth. For example, international reserves act as an essential buffer to protect against economic shocks. In 2001, the World Bank Treasury established the Reserve Advisory & Management Partnership, known as RAMP, to support public asset managers worldwide. RAMP builds human capital, delivers technical advisory and asset management services, and creates a community of practitioners through a network of public sector asset managers—all in one.
Supporting Diverse Institutions across IBRD and IDA Countries
This year marks RAMP’s 20th anniversary, which represents a momentous milestone for the Partnership. RAMP is uniquely positioned to support public asset management institutions, such as central banks, pension funds, sovereign wealth funds, and international financial institutions. Today, RAMP has nearly 80 members from all regions of the world, of which ten percent are in fragile and conflict-affected situations. This year, the World Bank approved the RAMP Trust Fund to support some of the most vulnerable institutions gain access to RAMP’s technical advisory through donor-funded subsidized membership.
Two-thirds of RAMP member institutions are in IBRD countries, and some of the most sophisticated public asset management institutions contribute to the Partnership’s wealth of knowledge and experience. RAMP members hail from all regions, including nearly three-quarters coming from Sub-Saharan Africa (31%), Latin America and Caribbean (24%) and Europe and Central Asia (18%). Assets under management have steadily grown for two decades, reaching $28 billion this year. Collectively, all RAMP members manage more than $2 trillion of assets.
Serving Public Asset Managers through Peer-to-Peer Expertise
Now, more than ever, public asset managers need sound reserve management practices and the ability to adapt to ever-changing financial markets and economic realities. RAMP strengthens countries’ financial stability and economic resilience through the implementation of sound reserve management and the opportunity to enhance member staffs’ skillset and expertise in asset management. One of the most valuable elements of the Partnership is that members gain access to a trusted adviser—to collaborate, solve problems, and provide perspectives on global best practice to boards and committees. Members not only gain access to a trusted adviser but more importantly to teams of experts dedicated to developing asset management capacity across public sector institutions. RAMP shares the expertise of World Bank staff and its members across governance, investment management, risk management, strategic asset allocation, legal, operations and IT for asset management operations through peer-to-peer engagements.
Celebrating Twenty Years of Partnership with a Global Membership
For 20 years, RAMP has been a global and one-of-a-kind network where members can interact, share, and develop new ideas with world-renowned academics and practitioners. To mark this year’s milestone, we are recognizing perspectives that make up the fabric of RAMP through one-on-one discussions published in the RAMP Voices Series. The Central Bank of Cambodia explains how they appreciate access to expert guidance and advice to increase their capacity. The Panama Savings Fund, the country’s sovereign wealth fund, shares how they develop their team’s investment management skillset through RAMP. The National Pension Service of Korea works with RAMP’s specialists and other pension fund RAMP members who exchange their experiences on investment framework, policies, and markets. As an international financial institution, the Food and Agriculture Organization of the United Nations appreciates the many resources including webinars that invite distinguished speakers, discuss timely developments in reserve management, and provide global market updates.
The World Bank Treasury and RAMP stands with public asset management institutions to support their reserve management operations, since the first member joined twenty years ago and for the decades to come.