HONG KONG (REUTERS) - Hong Kong's Exchange Fund, which is used to back the Hong Kong dollar, posted an investment income of HK$40 billion (S$6.97 billion) in the first half of 2016, the Hong Kong Monetary Authority (HKMA) said on Friday.

The figure compared with a HK$27 billion investment gain in the same period a year earlier. The Exchange Fund recorded an investment income of HK$14.6 billion in the second quarter after first-quarter investment income was adjusted to HK$25.4 billion, the HKMA said.

The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary and invests in equities, bonds, foreign exchange and other securities and assets.