About Hong Kong Monetary Authority
The Exchange Fund was established by the Currency Ordinance of 1935 (later renamed the Exchange Fund Ordinance) to provide backing to the issuance of banknotes. In 1976, the role of the Exchange Fund was expanded to include the management of the official reserves, when the assets of the Coinage Security Fund and the majority of foreign currency assets held in the Government’s General Revenue Account were transferred to the Exchange Fund. During the same year, the Government also began to transfer its fiscal reserves to the Exchange Fund. In order to better manage risks and enhance returns, the Exchange Fund has been diversifying its investments into a wider variety of asset classes in a prudent and incremental manner since 2008… Continue reading about Hong Kong Monetary Authority here.