Since 2018, and following the conclusion of the governments post-crisis additional financing programme, the investment strategy for the whole portfolio of reserves has been reviewed. The new strategy will take effect from 2020-21. The main outcome of the review was a change in approach to the trade-off between policy readiness, risk, and return. As a result of the review, the reserves will now seek to maximise value to the taxpayer and optimise return, whilst ensuring policy readiness and overlaying constraints to prudently manage financial risks.
Updated with 'Management of the Official Reserves: 2013'.