Value Partners (HKG:0806) has listed its first three money market exchange-traded funds in Hong Kong, aiming to offer investors better liquidity and risk diversification amid volatile global markets, The Standard reported Thursday.
Alex Chiu, senior strategist for ETF business at Value Partners, said investors have increasingly turned to defensive assets such as gold and money market funds despite rallies across asset classes this year, according to the report.
He added that money market products serve as a cash-parking tool, allowing daily subscriptions and redemptions, which is a useful feature as Hong Kong's IPO market heats up, the report said.
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