HONG KONG, Jan. 3, 2024 /PRNewswire/ — 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.
1. If the customers apply for redemption before the cut-off time, the fund aims to achieve T+0 redemption efficiency, and the redempton proceeds can be credited to the account on the same day.
About Bosera International
Bosera Asset Management (International) Co., Limited (“Bosera International”) is a subsidiary of Bosera Asset Management Co., Limited (“Bosera”) and China Merchants Fund Management Co., Ltd. (“China Merchants Fund”). Both Bosera and China Merchants Fund are the leading asset management institutions in Mainland China.
Established on March 4, 2010, Bosera International is one of the first Chinese-based fund companies to launch an asset management business in Hong Kong. Since its establishment, Bosera International has grasped the opportunity of global asset allocation, adhered to the concept of value investment, formed a comprehensive product line with primarily focusing on stable fixed-income investment and covering active equity and passive index, and actively established partnerships with other international companies, to provide global investors with two-way and cross-border asset management services. Bosera International serves customers in major financial markets such as the United States, Europe, South Korea, Singapore, and Hong Kong. With 13 years of deep cultivation in Hong Kong, Bosera International has become one of the largest Chinese asset management companies in Hong Kong.
About Industrial and Commercial Bank of China (Asia) Limited
Industrial and Commercial Bank of China (Asia) Limited (“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. Currently, ICBC (Asia) has 47 branches (including 25 branches equipped with “Elite Club” Wealth Management Centres) in Hong Kong. It is engaged in personal banking, commercial banking, cross-border banking, private banking, investment banking and other financial services, including those of securities, insurance and funds, with a focus on retail and commercial banking as well as global market business. Chinese Mercantile Bank and ICBC Asset Management (Global) Company Limited, two wholly-owned subsidiaries of ICBC (Asia), specialise in renminbi services in the Chinese mainland and ICBC’s global asset management business respectively.
Investment involves risk. Past performance of the fund is not indicative of future performance. Investors should not make investment decisions solely on the basis of the information contained in this material, but should refer to the Explanatory Memorandum and the Key Facts Statement of the Sub-Fund for further details, including the product features and risk factors before making any investment decisions. The investment value may also be affected by exchange rates. Investors should seek professional advice.
RMB currency risk: RMB is not a freely convertible currency and is subject to exchange control policies and remittance restrictions imposed by the Mainland China government. These government policies and restrictions are subject to change, and there is no guarantee that the RMB exchange rate will not fluctuate significantly against the U.S. dollar or any other foreign currency in the future.
Any depreciation of the RMB will have an adverse impact on the value of investors’ investments in the Sub-Fund. In calculating the net asset value per share of a class of shares denominated in RMB (if applicable) and in making any currency conversion involving RMB, the Manager may use the CNH exchange rate (being the exchange rate in the offshore RMB market in Hong Kong). Although the offshore yuan (CNH) and the onshore yuan (CNY) are the same currency, they trade at different exchange rates. Any differences between offshore RMB (CNH) and onshore RMB (CNY) may adversely affect investors.
In exceptional circumstances, redemptions paid in RMB (if applicable) may be delayed due to exchange controls and restrictions applicable to RMB.
Bosera USD Money Market Fund (the “Sub-Fund”) is a Sub-Fund of Bosera Global Public Funds Series Open-ended Fund Company (the “Company”). The Company and each Sub-Fund are authorised by the SFC in Hong Kong under Section 104 of the SFO. SFC authorisation or registration is not a recommendation or endorsement of the Company or any Sub-Fund nor does it guarantee the commercial merits of the Company or any Sub-Fund or its performance. It does not mean the Company a Sub-Fund is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.
Investors should be aware that investment in any Sub-Fund is subject to normal market fluctuations and other risks inherent in the underlying assets into which the Sub-Fund may invest. There can be no assurance that any appreciation in value of investments will occur. There is no assurance that the investment objectives of a Sub-Fund will actually be achieved, notwithstanding the efforts of the Manager since changes in political, financial, economic, social and/or legal conditions are not within the control of the Manager. Accordingly, there is a risk that investors may not recoup the original amount invested in a Sub-Fund or may lose a substantial part or all of their initial investment.
This information has not been reviewed by the Securities and Futures Commission of Hong Kong. Publisher: Bosera International. Without the consent of Bosera International, you may not copy, distribute or reproduce any material or any part of this document.
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