The city’s first locally registered open investment fund solely denominated in patacas is being launched today (Wednesday).
Leading this initiative is A&P Investment Fund Management Company Limited, which secured a special license from the Monetary Authority of Macau—the first of its kind—and received approval in May to establish the “A&P Macau Patacas Money Market Fund.”
Being denominated in the SAR’s local currency carries special significance, explains Bernardo Alves, chairman and founder of the company. “Something I wholeheartedly believe is that we, as a society and as locals, need the ability to invest in the currency in which we earn our salaries. It’s natural. So we are going to test this market,” Alves told Macau Business in an interview to be published in the magazine’s July edition.
The company aims to impact the local financial ecosystem with this step. “I think we are shaking and shaping the local financial ecosystem, particularly the fund industry, by creating the first MOP money market fund,” A&P CEO Abraham Kot emphasised.
The fund leverages Alves’ nearly two decades of experience in public and private equity investments, and Kot’s over three decades of experience across retail, commercial, and corporate banking, as well as investment fund management.
In 2021, Bernardo Alves and Abraham Kot decided to apply to create an investment fund management company in Macau, which was eventually established in early 2023, with a special registration from the Monetary Authority of Macau (AMCM) granted in June 2023. The permit to launch the “A&P Macau Patacas Money Market Fund” was published in the Official Gazette in early May.
