ZA Bank has released a report revealing that 80 per cent of its fund investors made a profit in 2023, collectively earning more than HK$40 million.
The bank, which introduced its investment fund services in August 2022, has partnered with leading international fund managers to provide over 120 investment fund products and achieved an impressive eight-fold increase in total fund assets under management throughout the year.
According to the report, 60 percent of the fund investors of ZA Bank hold money market funds, with an average holding amount surpassing HK$170,000. In addition, over 30 per cent of fund investors have received dividends, with cumulative cash dividends exceeding HK$7 million.
The report also highlighted that investors with more substantial assets tend to allocate more of their portfolio to fund investments. Users with over HK$5 million in total assets allocated 22 percent to investment funds, which is nearly 41 times higher than those with less than HK$10,000 in total assets.
According to the bank, its investment fund services have helped users save over HK$200 million in subscription fees. The bank offers a diverse range of funds covering global markets, such as the United States, Europe, India, and China, as well as various sectors, including gold, technology, and biomedical.
Interestingly, the report found that finance and insurance banking users earned the highest fund returns, with an average return twice that of users in other industries.
ZA Bank’s fund service fees remain competitive, with no subscription fees for money market funds and a 0.5 percent subscription fee for non-money market funds. The bank also hosts its “28 Invest Day” on the 28th of each month, encouraging users to redeem fund coupons with a simple tap.
The report suggests that ZA Bank’s investment fund offerings have gained traction among its customers since their introduction in 2022.
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