CONFIDENTIAL
- 13-
INVESTMENT POLICY COMPARISON WITH GUIDELINES
27.
The currency distribution of the Fund's assets at the
year end, together with the corresponding percentage distribution as at 31 December 1986, are given below. Further details are at
Appendix II:
31.12.87
31.12.86
$'000s
%
%
Canadian dollars
2,332,547
1.96
1.30
Deutsche marks
14,315,492
12.05
14.89
Dutch guilders
4,246,885
3.57
2.75
H.K. dollars
2,621,018
2.21
2.16
Japanese yen
13,361,802
11.24
11.17
Sterling
10,303,545
8.67
4.37
Swiss francs
3,718,379
3.13
3.25
U.S. dollars
64,128,688
53.97
57.19
115,028,356
96.80
97.08
Gold
Loans
681,684
0.57
0.71
3,124,576
2.63
2.21
118,834,616
100.00
100.00
28.
If the loans to The Ka Wah Bank Limited, First Pacific
Bank Limited (see paragraph 12) and The Hong Kong Futures Guarantee
Corporation Limited (see paragraphs 13 and 14) are taken into
account, the split of assets between Hong Kong dollars and foreign
currencies at 31 December 1987 would be 4.47% and 95.53%
respectively. This compares with 3.99% and 96.01% at 31 December
Total foreign currency assets at 31 December 1987 had a Hong Kong dollar value of $113,518.0 million which represents an increase
of 33.47% over 31 December 1986.
1986.
CONFIDENTIAL