HONG KONG, Jan. 3, 2024 – Bosera Asset Management (International) Co., Limited (“Bosera International”) is delighted to announce that the Bosera USD Money Market Fund (“the Fund”) has been onboard Industrial and Commercial Bank of China (Asia) Limited (“ICBC (Asia)”). ICBC (Asia) is a licensed bank incorporated in Hong Kong. It is the flagship of overseas business of Industrial and Commercial Bank of China Limited (“ICBC”) – currently the largest commercial bank in China, and it is one of the domestic systemically important banks (D-SIBs) in Hong Kong. Combining ICBC (Asia)’s strong strength in customer base, risk management and control, asset management scale and structure, Bosera USD Money Market Fund focuses on capital liquidity.
Convenient Trading and Daily Redemptions
The global market has been volatile and investors’ demand for defensive assets has increased significantly. Bosera USD Money Market Fund provides relatively stable returns by mainly investing in a portfolio of USD-denominated high-quality short-term deposits and money market instruments. As one of the largest fixed income teams in Hong Kong, Bosera International is able to benefit from economies of sales with its extensive counterparty resources and strong bargaining power.
With ample of liquidity, Bosera USD Money Market Fund supports daily redemptions, which provides investors with additional flexibility when making asset allocation decisions. At the same time, the minimum investment is as low as 13 US dollar.
Compared with equity and bond funds, this fund is a relatively low-risk investment product. For investors who want to avoid market risks, this fund aims to achieve a return in USD in line with prevailing money market rate, allowing investors to use funds more efficiently.
Capture the Global High Interest Rate Opportunity and Realize Asset Appreciation
The Federal Reserve has raised interest rates 11 times in a row since it started the current rate hike cycle in March last year, with a total of 525 basis points of interest rate hikes. At the same time, the Fed officials still emphasize their hawkish stance that they will not rule out continuing to raise interest rates and that interest rates will remain high for longer. Under the circumstance of high interest rate, risk assets continue to fluctuate and the Fund can offer potential return and liquidity.
Wang Dian, Managing Director and Head of Sales & Client Service Department of Bosera International, said: “We are very pleased to bring Bosera USD Money Market Fund to ICBC (Asia) this time. Bosera International adheres to the concept of investor first in product design. Our insistence on bringing investors more choices of money market fund is also our important commitment to developing our business in the Hong Kong retail market. ”
Jonathan Wan, Deputy Head of Retail Banking & Wealth Management Department of ICBC (Asia), said: ” Bosera USD Money Market Fund hopes to provide one more choice for customers with USD liquidity management needs. Its flexible investment strategies and T+0 transaction settlement model1 will bring customers more diversified investment choices and experiences, and continue to provide better wealth management services.
Bosera USD Money Market Fund is an important part of Bosera International’s cash (USD, HKD, RMB) management Solutions. In 2022, Bosera International foresaw that the Federal Reserve will bring about longer-lasting and more aggressive interest rate hikes, and launched the flagship cash management product, Bosera USD Money Market Fund. Since its launch, the fund’s total net value has reached US$2.3 billion (as of November 30, 2023) by investing in short-term deposits and high-quality money market instruments and the as fast as T+0 redemption efficiency1, meeting investors’ dual needs for liquidity and potential return in a relatively volatile market environment.
