HKMA exchange fund clocks 10-year high returns

HKMA
The HKMA reported an investment return of $32.2 billion by its exchange fund in 2017

The Hong Kong Monetary Authority has reported a record-high investment return of HK$252 billion ($32.2 billion) by its exchange fund in 2017, nearly three times the return in 2016.

The exchange fund, which is used to back the Hong Kong dollar’s peg to the US dollar, recorded an investment return of 7.1% in 2017, the highest since the fund returned 11.8% in 2007.

The surge is driven by the “much better than expected” performance of the global economy and financial markets, Norman Chan, chief

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