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  • Dec 27, 2014
  • Updated: 12:43am

Exchange Fund

Exchange Fund takes 43pc hit on investment income

Norman Chan Tak-lam. Photo: SCMP

Norman Chan Tak-lam, the chief executive of the Hong Kong Monetary Authority, which manages the fund, said the drop was due to the poor performance of the mainland stock market and the fact Hong Kong's equity and foreign exchange investments had gone into the red in the period.

Saturday, 4 May, 2013, 4:51am 6 comments

Exchange Fund looks to yuan, emerging markets

Monetary Authority chief executive Norman Chan says the authority will negotiate with the mainland for higher investment quotas. Photo: Edward Wong

The city's Exchange Fund, which had its second-best investment gain on record in 2012, will invest more in yuan-denominated bonds and shares this year.

15 Jan 2013 - 5:42am

Business Digest, January 8, 2013

Cathay, Dragonair bundle airline tickets

CIC eyes Daimler stake, People's Daily reports

8 Jan 2013 - 4:21am

Exchange Fund rounds to HK$41.2b gain in third quarter

HKMA is doing a "stress test" on the banking industry for assessing the potential impact of a worst-case scenario if the US fails to reach agreement.

The Exchange Fund turned around earlier losses to return HK$41.2 billion in the third quarter, thanks to a rebound in the stock market and gains from currencies and bonds.

The third-quarter profit compared to a loss of HK$5.6 billion in the second quarter and a loss of HK$41.7 billion in last year's third quarter, said the Hong Kong Monetary Authority (HKMA).

20 Nov 2012 - 4:01am

Shifting equity market seen lifting Hong Kong Exchange Fund performance

HKMA chief Norman Chan says no hot money so far. Photo: May Tse

Hong Kong's Exchange Fund could have improved its performance in the third quarter due to changes in the equity market, the city's Monetary Authority chief Norman Chan Tak-lam told reporters yesterday at the Treasury Markets Summit in Hong Kong.

13 Oct 2012 - 4:57am

Exchange Fund to cast wider net

The Exchange Fund plans to cast a wider investment net to lift returns after suffering a HK$6.3 billion investment loss in the second quarter.

The fund said it would put more money into property and yuan-based products.

27 Jul 2012 - 12:00am

Singapore solution may be no answer for HK

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, such a beast might pose more problems than solutions.

The debate was sparked after Leung Chun-ying proposed such a fund while he was campaigning to become the city's new chief executive.

10 Jul 2012 - 12:00am

Temasek-like sovereign fund 'not for HK'

Hong Kong does not need to follow Singapore's example and set up a state-owned investment company to achieve high returns for its currency reserves, a minister and an analyst have said.

Their comments poured cold water on a suggestion that a sovereign wealth fund might be the best option for the city.

7 Jul 2012 - 12:00am

Exchange Fund faces downturn

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.

22 May 2012 - 12:00am

Exchange Fund set to widen portfolio

The Exchange Fund is eyeing more asset classes, including property, private equity and yuan-denominated instruments, as public pressure mounts for it to increase returns while diversifying risk.

15 May 2012 - 12:00am

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