24.01.2014 - Hong Kong's wealth fund is doing a lousy job investing our money
You may not know about it, but Hong Kong has a sovereign wealth fund.It's called the Exchange Fund. It manages assets of HK$3 trillion, and its investment performance is abysmal. The Hong Kong Monetary Authority announced the Exchange Fund's results for 2013. It managed a return of just 2.7 per cent. When you consider that consumer inflation in Hong Kong last year was 4.3 per cent, that's really not very impressive. In real terms the Exchange Fund's return was negative...............................................Full Article: Source
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