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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Exchange Fund not a ’sovereign’ vehicle, says financial chief

Posted on 28 January 2010

From Thestandard.com.hk: The Hong Kong Monetary Authority will not use the Exchange Fund to set up a sovereign wealth fund, Financial Secretary John Tsang Chun-wah told Legislators.

“The Exchange Fund is not a pure investment fund,” Tsang said, noting that its main purpose is to ensure the stability of the Hong Kong dollar………………………………..Full Article: Source

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