TNAG-2561-FCO40-3744-Future-of-Hong-Kong-Special-Administrative-Region-Government-1992 — Page 5

UNCLASSIFIED

0 226

MDLIAN 2794

WAS NOTED IN SOME PRESS REPORTS THAT THE RETURN RATE, AVERAGING ABOUT 7.03 PERCENT FROM 1986/87 TO 1991/92, WAS SLIGHTLY LESS THAN THAT ACHIEVED BY THE EXCHANGE FUND (7.89 PERCENT) AND WAS BELOW THE INFLATION RATE IN CERTAIN YEARS.

PATTEN

YYYY

ΜΑΙΝ

.HK POLICY

63

DISTRIBUTION

72

PLANNERS

HKD

PUSD

FED

LEGAL ADVISERS//MS BARRETT

.AND MS BROOKS

NEWS D

RAD

PS

PS/MR GOODLAD

SIR J COLES

MR APPLEYARD

MR HUM

ADDITIONAL

9

CAOFF//SIR R BRAITHWAITE

CAOFF//MISS NEVILLE-JONES CAOFF//MR SIBSON

CAOFF//MS D CORNER CAOFF//MR CHARLTON PS/PM

NNNN

PAGE

2

UNCLASSIFIED