• Thursday
  • October 23, 2014
  • Last updated: 11:13am
Hong Kong




Search Results

Results 1 - 10 of 365 for sovereign wealth fund

Related topics matching your search

Search results

  1. Exchange Fund faces downturn

    Posted May 22nd 2012, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com The investment returns of the Exchange Fund in the second quarter will be hit hard by the euro-zone crisis and the Hong Kong Monetary Authority will accordingly adjust its portfolio to diversify risks, says authority chief executive Norman Chan Tak-lam. 'We are closely monitoring the sovereign debt crisis and will adjust our currency ...

  2. Millionaires are down but certainly not out

    Posted Feb 29th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Volatile markets and sovereign debt crises have thinned the ranks of Hong Kong's wealthy, but they are not about to become extinct, with one millionaire ... rounded up the top five occupations. 'Some of these people who identified themselves as housewives could have considered their husband's wealth as their own,' reflecting the total ...

  3. Poverty of ideas is frittering away HK's immense wealth

    Posted Mar 11th 2012, 12:00am

    ... than that. The government's Exchange Fund, in which these savings are held, has invested this money well over time and sits on investment gains of HK$593.8 billion at present. Put ... attributable to the people of Hong Kong with no strings attached. All the other things that we expect the Exchange Fund to do, such as holding the backing for the banknote issue and being able to pay ...

  4. HKMA chief pockets HK$8.4m pay packet

    Posted Apr 22nd 2011, 12:00am

    ... executive would get in his first full year in the job. Tong added the investment returns on the Exchange Fund, the quasi-sovereign wealth fund that the HKMA manages on behalf of taxpayers, were 'frankly disappointing'. The Exchange Fund made a 3.6 per cent return on its investments last year while the Hang Seng Index rose 58 per cent. The fund is permitted to buy stocks, although ...

  5. Singapore solution may be no answer for HK

    Posted Jul 10th 2012, 12:00am

    ... sovereign fund has posted an average annual return of 17 per cent since it was set up in 1974, not a bad track record. By comparison, Hong Kong's HK$2.34 trillion Exchange Fund, which ... Enoch Yiu Some people may consider the creation of a Temasek-like state-owned investment vehicle in Hong Kong a better-yielding option than the existing Exchange Fund. But, in fact, ...

  6. Our chief executive candidates show a poverty of imagination

    Posted Feb 29th 2012, 12:00am

    ... dollar peg. We don't. That's what the Exchange Fund's backing portfolio is for. She also thinks we should set up a sovereign wealth fund 'to chase higher returns', ... if you add the government's fiscal reserves to the excess reserves of the Exchange Fund. As the first chart shows, that's an astonishing 65 per cent of Hong Kong's gross domestic ...

  7. Extend safety net for those in need

    Posted Mar 28th 2012, 12:00am

    ... hoc government fund for help is regrettable. Set up in 2010, amid growing discontent over the widening wealth gap, with a view to supplementing the existing safety net, the HK$10 billion ... Finally, the government has come up with a plan to help those left out in John Tsang Chun-wah's giveaway swansong budget. The Community Care Fund plans to dish out HK$100 million ...

  8. Authority reports investment loss of HK$40.8b

    Posted Dec 16th 2011, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com The Exchange Fund reported an investment loss of HK$40.8 billion from July to September, marking its second-worst quarter on record. The fund, which includes ... failed to ensure the Exchange Fund achieved an investment return that could preserve value for Hong Kong people's assets,' Regina Ip Lau Suk-yee said. Chan defended the performance, ...

  9. Red Cross hit by another claim of funds misuse

    Posted Oct 21st 2011, 12:00am

    ... of holding up the bulk of funds earmarked for Chinese forced to work in Japanese internment camps during the second world war. In 2000, after a five-year battle, 11 of the forced labourers agreed to an out-of-court settlement with Kajima Construction in which the Japanese company used 500 million yen (HK$50.6 million) to set up the Hanaoka Peace and Friendship Fund, naming the RCSC as the trustee. ...

  10. Prudence urged, though projected deficit is small

    Posted Feb 28th 2008, 12:00am by Dennis Eng

    ... compared with 35 to 36 per cent before 1997, said James McCormack, head of Asia sovereign ratings at Fitch Ratings. The International Monetary Fund recommends fiscal reserves equal 25 per cent ... budget or a small surplus. Tim Lui Tim-leung, a tax partner at PricewaterhouseCoopers, said that with a likely surplus next year, the government could afford to return more wealth, although ...




SCMP.com Account