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Hong Kong Exchange Fund Q1 investment income at HK$24.1b: HKMA

[HONG KONG] Hong Kong's Exchange Fund, which is used to back the Hong Kong dollar, posted an investment income of HK$24.1 billion (S$4.27 billion) in the first quarter of 2016, the Hong Kong Monetary Authority (HKMA) said on Monday.

The figure compared with a HK$8.3 billion investment gain in the same period a year earlier, and an adjusted investment income of HK$21 billion in the fourth quarter of 2015. It is the highest since the second quarter of 2014 when it stood at HK$43.3 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.