A.7
CONFIDENTIAL
- 5-
The Exchange Fund's
subject to the approval
Advisory Committee.
The
returns
on
investment policy is
of the Exchange Fund
Committee monitors
investments.
In
the Fund's
addition, the Director of Audit also examines
the Fund's accounts.
Q.8
Who manages the Exchange Fund's assets?
A.8
Part of
by the
the Exchange Fund's assets are managed
Office of the Exchange Fund with the
balance being placed with a number of reputable
fund managers.
The managers invest their
accordance with detailed
portfolios
in
guidelines and their performance is monitored
closely by the office of the Exchange Fund.
Q.9
A.9
Where does Hong Kong stand in terms of its
monetary reserves when compared with other
neighbouring economies?
very
The overall financial position of Hong Kong is
strong.
It would be too simplistic to
assess the strength of an economy purely on the
basis of its level of official reserves. Other
factors,
the indebtedness of the
government, fiscal policy, balance of payments, etc. should also be taken into consideration.
such
as
CONFIDENTIAL
P22