May 6, 2019 / 2:23 AM / 21 days ago

HK Exchange Fund Q1 investment income jumps 245 pct to HK$120.9 bln

HONG KONG, May 6 (Reuters) - Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, posted an investment income of HK$120.9 billion ($15.41 billion) in the first quarter of 2019, jumping 245.4 percent from a year earlier, the Hong Kong Monetary Authority (HKMA) said on Monday.

The figure compared with a HK$35.0 billion investment gain in the same period a year earlier, and an adjusted HK$33.6 billion investment loss in the fourth quarter of 2018.

In 2018, the exchange fund recorded adjusted investment income of HK$10.9 billion, a 95.9 percent drop from 2017.

The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary and invests in equities, bonds, foreign exchange and other securities and assets. ($1 = 7.8452 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Simon Cameron-Moore)

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