Live Conclusion — How can we achieve lower risk seeking returns in a high US dollar interest rate environment?

1. Introduction of Fund Manager

Ho Chi Hui is a fund manager for Hong Kong companies in charge of the offshore cash management business, and his current major management products include the additional USD FX funds that we have on our Futu platform this year. Prior to her tenure as the Bank's International Financial Management, she was responsible for investments in offshore private fixed income and cash type funds, as well as an offshore fixed income product specialist from 2010 to 2015, managing Tier IV FX funds for large domestic companies and the Emerging Bond Fund that won the Gold Award from 2010 to 2015. Merchandise, and the head of the cash management team, is the first e-commerce financial product with the management team through a dealer bank. They all have dual experience in dealing with the domestic and foreign debt markets, and their management experience in low-risk, low-risk volatility and cash-type products.

2. Why is the focus on US Dollar Cash Management now?

1) The increase in US interest rates led to a rise in risk-free interest rates in the US dollar and the interest rate on money market investment instruments, making the return on US cash management products attractive; 2) The lower risk preference of investors led to a greater demand for hedging value of their free capital than ever before.

3. How are USD cash products compared and selected?

1) Treasury bonds, deposit-only direct investment instruments, and mainly present in the interbank market, can be purchased by overseas high net worth customers, but the starting amount is relatively high, and the starting amount of money funds (“commodity”) purchases for retail customers is usually low (starting at $1, for example); retail customers go to Bank time deposits may lack negotiability and difficult to obtain advantageous prices. Money funds, such as the bottom tier, can also make bank deposits, which are generally able to obtain higher interest rates than retail customers. In fact, cash management products have the function of “deposit movers”, transferring the level of interest rates that institutions can normally obtain through the fund product, so that individual investors in the fund can also be an investment option.

2) On the other hand, for the individual client, CDI invests in other direct currency market instruments in general for better liquidity: Investing in fixed deposits and some other currency instruments usually have lock-in periods of 1, 3, June and 1 year, which do not have to be withdrawn or difficult to withdraw before maturity Transactions, but the current USD commodity base can be realized as early as T+0 for purchase and redemption.

4. How is the risk specifically positioned to add the underlying investment range of USD FX funds?

Currency funds have three dimensions: security, liquidity, and profitability. Of course, every penny you can earn for investors in the investment sphere is the quality a money fund manager needs, but in the long run, keeping the bottom line on security and liquidity is crucial. So in our cash management investments, a creed that has always been adhered to is that safety and liquidity are higher than profitability.

5. How to choose a currency fund?

1) Qualifications of the fund management company; 2) the background and strength of the fund manager and investment team; 3) the range of performance; 4) Monthly report data, fund documents, annual reports and half-yearly reports Observe the broad nature of underlying investment objectives and liquidity readiness

Investing involves risk, and the price of fund units can rise and fall. The data set out in this document is for general reference purposes only and does not constitute an invitation or offer to invest in any fund shares or units, nor does it constitute an investment opinion or recommendation to buy or sell any investment or to enter into any transaction. The content of this document does not apply to any person or entity in any jurisdiction or country whose content is published in any jurisdiction or country in which it is published by its parent, subsidiary and/or associate company (the “Contribution Wealth Group”), or to any person or entity in any jurisdiction or country whose content is published by law or regulation Any person or entity in any jurisdiction or country where such data is permitted to be distributed or used. Any person is responsible for complying with all applicable laws and regulations in his or her jurisdiction before reading this document; by continuing to read this document, you indicate that you have read and understood the terms and conditions of this document and are bound by them.

Investors should note that purchasing a currency fund is not the same as depositing funds in banks or accepting deposits, fund managers are not responsible for redeeming units at value sold, and money funds are not regulated by the Hong Kong Monetary Authority. A currency fund does not have a fixed net asset value and does not guarantee that the capital will be paid. The information provided in this document is based on what is believed to be reliable data sources and is subject to change without prior notice, and may contain forward-looking statements based on the opinions, expectations and assumptions of Tofu Group, and it assumes no obligation to update or revise any forward-looking statements. and actual results may differ materially from those expected in the forward-looking statements. Convey Group does not guarantee or warrant the accuracy, validity or completeness of the data provided in this document, whether express or implied. Forge Group or any of its directors or employees shall not be liable for any errors or omissions in the data provided in this document, to any person for loss of reliance on any data provided in this document, or as a result of a system outage or failure, data transmission delay, virus or line or system failure We will not be liable for any damages or costs.

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