(Budget 2020) Plan to set up direct investments portfolio

A part of Hong Kong 'Future Fund' will be used to set up the Hong Kong Growth Portfolio for direct investments in projects with a "Hong Kong nexus,'' Paul Chan says.

This is based on recommendations made by a team led by Dr Victor FUNG Kwok-king. 

"The government set up the Future Fund in 2016.  In its first three years of operation, the fund achieved a composite rate of return of 4.5 percent, 9.6 percent and 6.1 percent respectively,'' Chan says.  

"To make best use of the fund, I indicated in my last budget that I would invite several experienced persons in the financial services sector to advise on the fund's investment strategy and portfolios, with a view to enhancing returns while reinforcing Hong Kong's status as a financial, commercial and innovation center.  This is also crucial for raising Hong Kong's productivity and competitiveness in the long run.''