Exchange Fund sees record gains

Exchange Fund sees record gains

The Exchange Fund recorded its highest-ever investment income of $252 billion last year, with an investment return of 7.1%, the Monetary Authority announced today.


Fees on placements by fiscal reserves amounted to $23.5 billion, while fee payments on placements by government funds and statutory bodies came in at $8.6 billion. The fund’s accumulated surplus increased by $168.4 billion.


Total assets stood at $4.02 trillion at the end of 2017, up $404.8 billion on the previous year.


Monetary Authority Chief Executive Norman Chan said: “The global economy and financial markets in 2017 performed much better than expected.”


He said market optimism continues to prevail, but with some risk factors including the pace of US interest rate normalisation, US trade policies and protectionism, along with geopolitical tensions.


“We will remain agile and nimble, monitor market developments closely and deploy some defensive measures as and when appropriate.”


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