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HONG KONG, March 26, 2024 /PRNewswire/ -- Winners of the Offshore China Fund Awards 2023, a program co-hosted by the Chinese Asset Management Association of Hong Kong and Bloomberg, have recently been unveiled. As one of the most prestigious awards in the industry, it has been running for years and has received much attention. Futu Holding Ltd. (Nasdaq: FUTU) was awarded Best Digital Financial Service for the second time with its technological edge and outstanding digital products and services. This honor consolidated Futu's leading role in the fintech field in Hong Kong as well as recognized Money Plus's wealth management services.
Futu Wins Best Digital Financial Service Award in Hong Kong
Since its founding, Futu has been committed to empowering finance with cutting-edge technology to drive the development and innovation of the industry. With its proprietary system, Futu keeps upgrading user experience from account opening, market data, trading, and news, to settlement. Its advanced technological capabilities lay the solid foundation for its rapid growth. By the end of 2023, Futu had garnered more than 21 million global users from over 200 countries and regions. Money Plus, a wealth management brand of Futu, focuses on clients' demand for investment and wealth management. Its global asset allocation platform enables users to invest stocks and funds within one platform, thus managing their assets in a scientific, reasonable, and effective manner. By the fourth quarter of 2023, Money Plus's AUM exceeded HK$57.5 billion, up 82.3% YoY, with its business expanding rapidly and products further diversified.
With strong technological strength and user centricity, Money Plus works to upgrade product features, including pre-ordering, fund comparison, regular savings plans (RSP), fund portfolios, etc. In Hong Kong, Futu's Cash Plus has become a popular choice for investors who want to grow their wealth. Its SmartSave feature auto-redeems investors' money market fund (MMF) positions to trade stocks. Its low thresholds, stable returns, and flexibility are favored by investors. As of the fourth quarter of 2023, the number of Hong Kong MMF holders had increased by 34.2% YoY, and fund AUM had increased by nearly 80% YoY to HK$16.8 billion. In response to the demand in the Hong Kong market, the Company expanded its product range to cover nine major types of structured notes and became the first brokerage in Hong Kong to enable decumulator trading.
Investors aside, Money Plus also attracts and establishes cooperation with many asset management institutions to build a sustainable wealth management ecosystem. As of the fourth quarter of 2023, Money Plus had entered partnerships with 82 well-known financial institutions globally. In Hong Kong, it launched more than 150 popular fund products for cash management, RSP, monthly dividend payouts, and thematic investing. Money Plus has maintained a strict standard in product selection and kept expanding product categories to offer a variety of high-quality wealth management products to all investors.
Steve Zeng, managing director of Futu and head of international strategy and wealth management, commented, "As one of Futu's core businesses, Money Plus has achieved rapid growth in the past few years, especially in terms of AUM as well as the number and quality of clients. We are committed to providing diverse investment products and portfolios for our clients. Rather than simply focusing on product promotion, we take a step further to find the right products for each investor. By offering multiple fund selection and analysis tools and a tactical asset allocation strategy, we help clients make investing decisions that better suit their investing goals and risk preferences. We are honored to be awarded Best Digital Financial Service. It not only recognizes Money Plus's past achievements but also demands better development in the future. With the spirit of innovation, we will work towards better user experience and fund investing services."
About Futu Holdings Limited
Futu Holdings Limited ("Futu") (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. Futu was listed on Nasdaq on March 8, 2019. Futu and its licensed subsidiaries provide investing services, including trading and clearing services for United States, Hong Kong SAR, China Connect, and Singapore stocks, margin financing, wealth management, market data, and interactive social features to individual investors through its proprietary one-stop digital platforms, Futubull and moomoo. By creating a network centered around its users, Futu provides connectivity to users, investors, analysts, media, companies, and institutions. Futu also provides Employee Stock Ownership Plan (ESOP) solutions, IPO distribution services, investor relations (IR) services, and public relations (PR) services through its enterprise service brand FUTU I&E. Futu Trustee provides one-stop wealth management solutions for corporate clients and high net worth individuals and families, and revolutionizes service delivery for ESOP Trust Administration, Family Trust, and Family Office by using technology. Putting users and experience first, Futu will seek continuous refinement of its products to provide more products and services that benefit investors, corporates, and the industry and become an influential global financial services platform. For more information about Futu, please visit its official website www.futuholdings.com
