Investors in mainland China will soon have access to Macau's first locally-based mutual fund, launched in July 2024, the South China Morning Post reported Monday, citing fund manager Bernardo Alves.
The A&P Macau Patacas Money Market Fund is denominated in Macanese patacas, according to the report.
It has reached 218 million patacas with a yield to maturity at 3.86% from investing in the city's interbank market through time deposits in patacas, Hong Kong dollars, and US dollars, according to the SCMP.
The development comes as Beijing has encouraged Macau to diversify its economy beyond games of chance, the report said.
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