May 29, 2017 / 2:49 AM / 6 months ago

Hong Kong Exchange Fund Q1 investment income at HK$57.1 bln - HKMA

HONG KONG, May 29 (Reuters) - Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, posted investment income of HK$57.1 billion ($7.33 billion)in the first quarter of 2017, the Hong Kong Monetary Authority (HKMA) said on Monday.

The figure compared with a HK$25.4 billion investment gain in the same period a year earlier, and an adjusted HK$23.3 billion investment loss in the fourth quarter of 2016.

In 2016, the exchange fund recorded adjusted investment income of HK$68.1 billion.

The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary and invests in equities, bonds, foreign exchange and other securities and assets. ($1 = 7.7938 Hong Kong dollars) (Reporting by Twinnie Siu and Donny Kwok; Editing by Eric Meijer)

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