Hong Kong Getting Serious About Future Fund Formation
The complex world of sovereign wealth funds has grown rapidly in the last 10 years. As of February 2015, there are over US$ 7 trillion in sovereign wealth fund assets, trumping the U.S. defined benefit sector. Meanwhile, a new fund may be joining the SWFI’s sovereign wealth fund rankings. The Hong Kong government and Hong Kong Monetary Authority (HKMA) have laid out plans for a proposed future fund. The sovereign wealth fund could go live in 2015.
Hong Kong Financial Secretary John Tsang Chun-wah during a recent budget speech at the Legislative Council said, “The future fund will serve as long-term savings and be placed in long-term investments for higher returns.”
Future Fund’s Purpose
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