Today sovereign wealth funds and public pension funds manage almost $32 trillion in assets, and central banks manage more than $11 trillion in reserves worldwide. Financial markets, technology, and the complexity of strategies behind investment management and fund governance are rapidly evolving.
Demographic shifts, economic growth and natural resource discoveries, combined with interest rate fluctuations and tail risk events, such as pandemic or geopolitical, are all making it crucial for developing and emerging economies to design a carefully structured approach for the governance and management of public financial assets.
The World Bank – Milken Institute Public Financial Asset Management Program at Bayes Business School (formerly Cass) aims to address this need by equipping public pension funds, sovereign wealth funds, central banks and pension fund regulators with the tools needed to effectively manage sovereign financial wealth, to prudently expand their asset eligibility, and ultimately to achieve economic stability and support long-term prosperity for future generations.
Tailored coursework and workshops at Bayes Business School, City, University of London, resulting in an accredited Postgraduate Diploma (with the option of conversion to a Master of Science after graduation)
Internships with world class investment management firms and public pension funds to put core concepts into practice and witness industry practices first-hand
In-person and online collaboration with alumni from across developing and emerging economies
Applications for our second cohort are now closed. Coursework runs from late September 2023 through early February 2024, followed by internships until mid-June 2024.
Applications for our third cohort will open in early 2024. Applicants should be nominated by and have the support of their employers in sovereign wealth funds, public pension funds, pension fund regulatory bodies, and the reserve asset management arms of central banks. Each institution can nominate up to five candidates per year.
Corporate partners and foundations have many options for engaging with the Program – from participating in our Speaker Series, to hosting interns, or helping us cover tuition and other programmatic expenses.
In particular, by hosting interns for four months in the second half of the program, our UK-based supporters can make a tremendous impact by providing participants with applied, hands-on experience and in the asset management industry.
“Public sector asset managers are the stewards of national wealth for future generations, and play a crucial role in financing long-term prosperity. We are focused on developing a generation of leaders around the world who have a deep understanding of capital markets, a commitment to good governance, and the strategic tools to make investment decisions that benefit their nations.”
“In the past two decades, the environment in which official sector asset managers have managed financial wealth has been uniquely challenging – ranging from a global financial crisis and unconventional monetary policies to a pandemic and escalating geopolitical tensions. Through this program, we advance the World Bank’s mission to end extreme poverty and build shared prosperity by strengthening countries’ resiliency and supporting their financial stability objectives.”
“Rapidly evolving financial markets have challenged public asset managers to rethink their strategies and portfolio construction. Working with industry heavyweights will offer our students the governance framework and strategic investment tools needed to effectively manage sovereign financial wealth and achieve economic stability. We are proud to respond to the educational needs of specialists working on creating long-term prosperity for future generations.“
“Public sector asset managers are the stewards of national wealth for future generations, and play a crucial role in financing long-term prosperity. We are focused on developing a generation of leaders around the world who have a deep understanding of capital markets, a commitment to good governance, and the strategic tools to make investment decisions that benefit their nations.”
“In the past two decades, the environment in which official sector asset managers have managed financial wealth has been uniquely challenging – ranging from a global financial crisis and unconventional monetary policies to a pandemic and escalating geopolitical tensions. Through this program, we advance the World Bank’s mission to end extreme poverty and build shared prosperity by strengthening countries’ resiliency and supporting their financial stability objectives.”
“Rapidly evolving financial markets have challenged public asset managers to rethink their strategies and portfolio construction. Working with industry heavyweights will offer our students the governance framework and strategic investment tools needed to effectively manage sovereign financial wealth and achieve economic stability. We are proud to respond to the educational needs of specialists working on creating long-term prosperity for future generations.“
