29.07.2014 - Call to use Exchange Fund for social policies rejected
The Exchange Fund remains the last line of defense for financial stability and should not be used to support social policies or adopt a more aggressive investment strategy, the Hong Kong Monetary Authority chief said. "It is clearly not appropriate for the fund to adopt an overly aggressive investment approach, nor is it appropriate to directly compare the fund with other investment funds or sovereign wealth funds," Norman Chan Tak-lam said yesterday in his column on the authority's website. He said the fund must remain highly liquid "and thus should not concentrate on highly volatile assets such as equities."..............................................Full Article: Source
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