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
