Sun. Oct 25th, 2020

The Government announced today the establishment of a governance committee to provide strategic steering for the Hong Kong Growth Portfolio and give guidance on investment mandates and asset allocation.

The Governance Committee of Hong Kong Growth Portfolio is a high-level advisory committee chaired by the Financial Secretary with six non-official members who serve a two-year term starting October 1.

In his 2020-21 Budget Speech, the Financial Secretary announced that he would use part of the Future Fund to establish a new portfolio to make strategic investments in projects with a Hong Kong nexus.

It aims to enhance returns while reinforcing the city’s status as a financial, commercial and innovation centre, and raising productivity and competitiveness in the long run.

Apart from the governance committee, an Investment Committee had also been set up to take forward this initiative.

The Investment Committee will be chaired by the Secretary for Financial Services & the Treasury, and comprises representatives from relevant government agencies to decide on the appointment of general partners.

Financial Secretary Paul Chan noted that the governance committee’s appointed members include experts from the private equity and venture capital field, as well as leaders from the financial services and business sectors.

He said he looks forward to benefitting from their insights and advice on portfolio strategic matters.

By Bureau