Dgital brokerage and wealth management (WM) platform Futu Holdings’ assets under management (AUM) in its Futu Money Plus WM business have surged 50% in just 10 months, exceeding US$10 billion.

Futu Money Plus, the platform says, has been continuously expanding its product offerings to address evolving needs in global assets allocation. In the past year alone, the company points out, the number of clients holding funds on Money Plus, including high-net-worth individuals and institutional clients, has increased by 51%.

One of the key drivers that has fuelled the sustained growth of the company’s Money Plus fund business, the company shares, has been the great demand on money market funds, which offer steady returns and flexible redemption to investors. Against the backdrop of the high interest rates in Hong Kong, Futu’s Cash Plus, the platform says, remains a highly sought-after cash management solution for investors.

Additionally, Money Plus saw a strong growth in alternative assets and bonds. As of June 5 this year, it has recorded a 1.5 fold increase in its AUM for alternative assets, and the number of its clients holding alternative assets nearly tripled compared to that of the same period last year.

Notably, US treasury bonds, which have become many investors’ preferred hedging asset by offering assured long-term return amid the market’s anticipation of rate cuts by the US Federal Reserve, have also seen a significant rise in client demand.

Recently, Futu has introduced its Fast Trade for bonds, which ensures 100% order fulfilment in just eight seconds on average, the company notes. Over the past month, Futu’s platform has generated HK$310 million of profits for its fund clients.

The company’s recent move into Malaysia is built on its success in WM in Singapore, with over 85% of its clients in the market achieving positive results over the past year. With a track record and capabilities to provide advanced services, such as the TAMP (turnkey asset management platform) for high-net-worth clients in Singapore, the company, it says, “strives to expand its innovative WM solutions for investors in Malaysia and beyond”.