Hong Kong's Future Fund to get annual top-ups
The $28 billion state institution, which launched on January 1, is due to receive yearly flows of up to a third of Hong Kong's annual budget surplus, forecast to be $6 billion this year.
Hong Kong’s new sovereign institution, the Future Fund, may receive up to one-third of the government's annual budget surplus every year to add to the HK$220 billion ($28.4 billion) it started with when it launched on January 1. The surplus is forecast to be HK$37 billion for 2016.
The fund’s assets are being invested by the Hong Kong Monetary Authority’s (HKMA) existing HK$3 trillion Exchange Fund. Since the new institution will put at least half of its allocation in alternative…
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