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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

HK Exchange Fund’s income more than doubles as stock gains surge

Posted on 21 November 2016

The Exchange Fund, the reserve designed to defend the Hong Kong currency, has reported an investment gain of HK$42.5 billion in the third quarter, more than double that of the previous three-month period, thanks to a large increase in stock investment income.
The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar……………………………………Full Article: Source


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