Macau mutual fund will soon be offered to mainland China investors

Macau is a special administrative region of China.

Its A&P Macau Patacas Money Market Fund was launched in July 2024

South China Morning Post report that

• the fund will soon be offered to mainland investors
• in the Greater Bay Area
• via the Wealth Management Connect scheme

The fund is denominated in the Macau pataca

• pataca is the currency of Macau
• Macau has a currency board system (Monetary Authority of Macau (AMCM))under which the pataca is 100 per cent backed by foreign exchange reserves, in this case currently the Hong Kong dollar (itself backed by the United States dollar).
• pataca has a fixed exchange rate of HK$1 = MOP 1.03

This article was written by Eamonn Sheridan at www.forexlive.com.