The Housing Authority will diversify 25% of its fund into global equity following the endorsement of the detailed arrangements for taking forward the second phase of its investment strategy.

The Housing Department will continue to manage the remaining 30% of its fund, mainly in bank deposits, to meet the authority's operational cash-flow requirements.

The authority's Finance Committee today endorsed the appointment of six global equity fund managers and their allocations totalling $12.5 billion. If things go smoothly, the placement of funds can be made by the end of the first quarter.

1st phase progress

The authority last year announced it would invest 45% of its fund in a global bond following the endorsement of the detailed arrangements for taking forward the first phase of its investment strategy.