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Market Chatter: Hong Kong Exchange Fund Eyes S&P 500 Tracking Mandate

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Hong Kong's Exchange Fund is seeking investment managers for a mandate tied to the S&P 500 Index, Bloomberg News reported Wednesday, citing people familiar with the matter.

The HK$4.3 trillion fund has been reviewing proposals in recent months and is looking for a low-tracking-error strategy that closely mirrors the benchmark's performance, according to the report.

Bloomberg said the mandate forms part of the fund's manager review process, with the size of any allocation yet to be determined.

The Exchange Fund is managed by the Hong Kong Monetary Authority.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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