AMP Capital surprised by China MMF surge
The mainland JV between AMP Capital and China Life has raised $2 billion within weeks from its initial money-market fund, riding a wave of popularity for the strategy.
Australian house AMP Capital admits fundraising for a first product launched via its China joint venture has exceeded expectations, riding red-hot popularity for money-market funds.
The venture, which joined forces with China Life last July, only started promoting its money-market fund this month, but already it has raised A$2.2 billion ($1.9 billion).
AMP says it will continue marketing the strategy in the coming months.
China’s money-market funds industry saw its AUM more th…
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