The Czech National Bank reported that its actively managed international reserves had a market value of EUR 147.764 billion. The portfolios generated an average annual return in reserve currencies of 9.13% over one year, 8.34% over three years and 4.61% over five years. The investment tranche represented 80.7% of reserves and returned 10.95% over one year, while the liquidity tranche accounted for 19.3% and returned 2.17%. Bonds comprised 45.7% of reserves, followed by equities at 29.4%, money market instruments at 18.2% and gold at 6.3%. The currency allocation was concentrated in the euro at 47.8% and the U.S. dollar at 28.6%.