Asset Liability management (ALM) is the core management of commercial Banks, and active debt management is fundamental of ALM.

资产负债管理是商业银行经营管理的核心，而主动负债管理是银行实施资产负债管理的基础。

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Instead, these investments would rely more heavily on active management--things like emerging market equity and debt funds, domestic high-yield bonds, small cap equities, real estate and private equity.

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