The Hong Kong Monetary Authority published the unaudited financial position of the Exchange Fund at end-June 2025, reporting investment income of HKD 194.4 billion for the first half of 2025 and total assets of HKD 4,297.1 billion. Investment income was driven by gains on bonds (HKD 75.3 billion), gains on Hong Kong equities (HKD 22.9 billion), gains on other equities (HKD 27.4 billion), a positive currency translation effect on non-Hong Kong dollar assets (HKD 56.8 billion, net of hedging), and gains on other investments (HKD 12.0 billion, based on valuations at end-March 2025 with April–June changes not yet available). Fees on placements by the Fiscal Reserves and by HKSAR Government funds and statutory bodies were HKD 8.5 billion and HKD 8.3 billion respectively, with the fee payment rate set at 4.4% for 2025. Total assets increased by HKD 216.1 billion from end-2024, and the accumulated surplus stood at HKD 877.9 billion at end-June 2025.
Hong Kong Monetary Authority 2025-07-31
Hong Kong Monetary Authority reports HKD 194.4 billion Exchange Fund investment income in the first half of 2025 and assets of HKD 4,297.1 billion at end-June
The Hong Kong Monetary Authority reported the Exchange Fund's unaudited financial position at end-June 2025, with investment income of HKD 194.4 billion for the first half of the year and total assets of HKD 4,297.1 billion. Gains were primarily from bonds, Hong Kong equities, other equities, and a positive currency translation effect on non-Hong Kong dollar assets. Total assets increased by HKD 216.1 billion from end-2024, with an accumulated surplus of HKD 877.9 billion.