HK Exchange Fund sticks to its guns despite fall in income
The HKEF's managers say it is unrealistic to expect the fund to engage in short-term trading, and that it needs to avoid being easily unsettled by market fluctuations.
The Hong Kong Exchange Fund will not be altering its investment approach in reaction to sharp market moves, the city’s sovereign wealth fund told AsianInvestor.
Having seen its investment income drop 64% in the 12 months to June 2015, and facing questions about its ability to withstand short-term shocks, the fund’s managers have reiterated their policy for the strategic portfolio.
The Exchange fund, which was ranked No 27 in this year’s AsianInvestor 300 survey, has assets under…
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