HKMA Exchange Fund backs bonds, China recovery after record $25bn loss

Hong Kong Monetary Authority's (HKMA) Exchange Fund is hoping fixed income investments and mainland China’s economic rebound will help investment performance this year, after it posted a record investment loss for 2022. The fund lost HK$202.4 billion ($25.8 billion), or 4.4% on investment in 2022. As a result, total assets under management (AUM) shrank by HK$559.1 billion to HK$4.01 trillion ($511.8 billion) at the end of 2022 from HK$4.57 trillion at the end of 2021. The de fac…