183. 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 per cent, 9.6 per cent and 6.1 per cent respectively. To further optimise the Future 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 centre. This is also crucial for raising Hong Kong's productivity and competitiveness in the long run.
184. A team led by Dr Victor FUNG Kwok-king has made recommendations to me, which include using part of the Future Fund to set up the Hong Kong Growth Portfolio for direct investments in projects with a "Hong Kong nexus". I have accepted the recommendations and will start preparing for their implementation.