TNAG-0623-FCO40-771-Hong-Kong-Government-investments-in-South-African-stocks-1977 — Page 3

CONFIDENTIAL

Foreign and Commonwealth Office

London SW1A 2AH

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Full "itt Invstuali

Telephone 01- 233 4114

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Your reference

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Our roforance

Date

Dru

31 May, 1977

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PR Asquith Esq

Investment Department LAST PAPER

Crown Agents

4 Millbank

*.31

Den for inquith.

-1 JUN977

HKI

(1C 182/1

I understand that you have recently discussed the question of Crown Agents investment in South African Stocks on behalf of Dependant Territories with Mark Herdman of this department, and that you agreed that you would consult us about any future proposal to purchase such stocks for Dependencies.

2. I am writing to confirm that we should be grateful if you would let us have advance warning of any request to make such an investment. As you know, we are anxious to avoid the political embarrassment that could be caused if Dependencies continue to purchase South African Stocks. We would therefore like to have an opportunity to intervenc with the Administration of any Depen- dency which asks you to invest on their behalf in South African Stocks.

I am most grateful for the help which you have given us in handling this somewhat sensitive problem.

3.

Челает

simeenly.

Blind copies:

fir Butler

Mr Murray'

fir Stewart, HKGD

Er Reid, SASD.

Fr Smith, Economists Dept:

fill Mand

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(H JH Maud)

Financial Relations Department

CONFIDENTIAL