‘Challenging' year spurs diversification of Hong Kong's exchange fund
Fund was hit by "triple whammy" in 2015
The Hong Kong Monetary Authority (HKMA) is speeding up its efforts to diversify its exchange fund, after it suffered a year of high volatility and "erratic" market movements in 2015, the central bank said in its annual report, published today (April 29).
"2015 was an extremely challenging year for investment of the exchange fund," the HKMA said in the report. It attributed "huge market volatilities" to a "prolonged period of excess liquidity". The violent market movements led to an unusual
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