January 23, 2020 / 8:48 AM / a month ago

Hong Kong Exchange Fund's 2019 investment income at HK$247.2 bln, HKMA says

HONG KONG, Jan 23 (Reuters) - Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, posted investment income of HK$247.2 billion ($31.8 billion) in 2019, the Hong Kong Monetary Authority (HKMA) said on Thursday.

In 2018, the exchange fund recorded adjusted investment income of HK$10.9 billion.

“As the market outlook for 2020 remains highly uncertain, the HKMA will continue to manage the exchange fund prudently and further diversify our investments as appropriate to receive higher long-term return for the exchange fund,” said HKMA Chief Executive Eddie Yue.

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 = 7.7725 Hong Kong dollars Reporting by Twinnie Siu; editing by Larry King

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