Ping An money market fund retains top ‘AAAmf’ rating

Ping An of China Asset Management’s Hong Kong-domiciled USD money market fund has retained its highest ‘AAAmf’ rating from Lianhe Global, underscoring its liquidity strength and capital preservation profile for institutional investors.

Ping An of China Asset Management (Hong Kong) (PAAMC HK), the offshore asset management arm of the Ping An Insurance (Group) Company of China, (Ping An) announced that Lianhe Ratings Global Limited (Lianhe Global) has affirmed 'AAAmf' money market fund (MMF) rating - the highest money market fund rating - to Ping An of China Select Investment Fund Series - Ping An Money Market Fund (the Fund).

Ping An Money Market Fund is a USD-denominated MMF, established in March 2021 and domiciled in Hong Kong. As of 31 December 2025, the fund had a fund size of $6,095 million and a diversified investor base, maintaining a leading position among its peers. On the Wind–HKCAMA Hong Kong Offshore Mainland Public Fund Performance Ranking, jointly released by Wind and the Chinese Asset Management Association of Hong Kong (HKCAMA), the Fund has consistently ranked among the top performers. In the latest Q3 2025 ranking, Ping An Money Market Fund Class I – USD Accumulation placed within the top three in the three-year performance category for USD money market funds.

The Fund's objective is to invest in short-term deposits and high-quality money market instruments and seeks to achieve a return in USD in line with prevailing money market rates. Lianhe Global said the 'AAAmf' rating reflects the Fund's fairly strong ability to provide liquidity and preserve principal, supported by the Fund's well managed asset quality, strong liquidity profile and low exposure to market risk.

The credit quality of the Fund's underlying investments met Lianhe Global's criteria for 'AAAmf' rated MMFs, with asset-weighted average credit quality equivalent to a high-investment-grade international rating ('BBB+' or above), throughout the review period since January 2025. Concentration risk was also well managed; large exposures were only limited to strong credit quality assets.

In addition, the Fund had a strong liquidity profile, supported by sufficient daily and weekly liquidity to meet investors' fund flows. Its weighted average maturity and weighted average life were below 60 days and 120 days, respectively, which limited the Fund's exposure to market risk. Derivatives (if employed) is only for hedging purposes and the manager will hedge non USD-denominated investments into USD in order to manage any material currency risk.

"We are delighted that Lianhe Global has maintained the Fund's 'AAAmf' rating for the third consecutive year," said Armin Cheung, portfolio manager of the Fund. "This continued affirmation underscores our disciplined investment process, robust risk management, and consistent focus on liquidity and principal preservation. We remain committed to provide our clients with more first-class strategic investment solutions and liquidity management tools."

Re-disseminated by Wealth and Society