CSOP USD Money Market Fund - 20241018
· Last week, data reflected better-than-expected domestic consumption and labor market.
· Retail sales in September rose by 0.4%, surpassing the 0.3% consensus, and the control group increased by 0.7%, also beating the 0.3% consensus. As such, economists believe these figures indicate a stronger consumption growth rate in 2H24.
· Initial claims dropped by 19k to 241k, lower than the 259k consensus, partially reversing the manufacturing-related increase in Midwest states the previous week.
· With that, we expect CSOPUMM to continue to deliver stable yield in the near term. As of 20241018, the fund has gross yield of 5.13% and net yield at 4.85%. ^
Source: CSOP, Bloomberg, JP Morgan as of 20241018. ^ Gross yield is based on annualized yield of underlying holdings. 7-day net yield is calculated based on calendar days and NAVs in 5-decimal
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“The investment product(s), as mentioned in this document, is/are registered under section 286 of the Securities and Futures Act (Cap. 289) of Singapore (the “SFA”).This material and the information contained in this material shall not be regarded as an offer or solicitation of business in any jurisdiction to any person to whom it is unlawful to offer or solicit business in such jurisdictions. This document is not to be construed as recommendations to buy/sell any above-mentioned securities, or any securities in the above-mentioned sectors or jurisdictions.
CSOP Asset Management Pte. Ltd. (“CSOP”) which prepared this document believes that information in this document is based upon sources that are believed to be accurate, complete, and reliable. However, CSOP does not warrant the accuracy and completeness of the information, and shall not be liable to the recipient or controlling shareholders of the recipient resulting from its use. CSOP is under no obligation to keep the information up-to-date. The provision of this document shall not be deemed as constituting any offer, acceptance, or promise of any further contract or amendment to any contract. The information herein shall not be disclosed, used or disseminated, in whole or part, and shall not be reproduced, copied or made available to others without the written consent of CSOP.
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