HKMA Exchange Fund increases exposure to managers with local presence

The Hong Kong Monetary Authority’s Exchange Fund has gradually increased its investment exposure to external managers with “major operations” in Hong Kong in recent years to encourage their business expansion in the financial centre. “The HKMA attaches great importance to the operating situation of the investment managers in Hong Kong. For instance, their business scale and whether there has been business expansion in Hong Kong in recent years,” Christopher Hui, the city’s Secreta…