$Futu Holdings Ltd (FUTU.US)$ good news to Moomoo MY users==...
$Futu Holdings Ltd(FUTU.US$ good news to Moomoo MY users===>The statement means that Moomoo Securities Malaysia Sdn. Bhd., a fully-owned subsidiary of Futu, has been approved by the Federation of Investment Managers Malaysia (FIMM) for Institutional UTS Adviser (IUTA) registration. This registration allows Moomoo to distribute wealth management products in Malaysia.
### Products Moomoo Users Can Buy
With the IUTA registration, Moomoo can offer its users a range of wealth management products, which typically include:
1. **Unit Trusts**: Investment funds that pool money from many investors to purchase a diversified portfolio of stocks, bonds, or other securities.
2. **Mutual Funds**: Similar to unit trusts, mutual funds are managed investment schemes that gather funds from multiple investors to invest in various assets.
3. **Investment-Linked Insurance Products**: Insurance policies that provide both investment and insurance coverage, where part of the premium is allocated to investment funds.
4. **Retirement Funds**: Investment products specifically designed for retirement savings, such as Private Retirement Schemes (PRS) in Malaysia.
5. **Structured Products**: Pre-packaged investment strategies based on derivatives, often combining bonds and other types of securities to achieve a particular financial goal.
### Benefits for Moomoo Users
This approval allows Moomoo to offer a wider range of financial products, enhancing its wealth management services. Users will have access to a variety of investment options to diversify their portfolios, potentially increasing their returns and managing risks more effectively.
I really hope Moomoo MY has the mutual like Moomoo SG where we can park our spare cash there to earn interest instead idle there get nothing
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