FUNDOS

 no25 Em consonância com as Linhas de Ação Governativa para 2025, a  Autoridade Monetária de Macau  (AMCM) está a acelerar a modernização do ecossistema financeiro, apostando na expansão do mercado obrigacionista e na atualização do regime dos fundos de investimento. O organismo sublinha que estas iniciativas têm como objetivo apoiar a transformação do setor e estimular o desenvolvimento de novos segmentos financeiros. No mercado obrigacionista, a interligação entre a Central de Depósito de Valores Mobiliários de Macau e a Central Moneymarkets Unit de Hong Kong, operacional desde janeiro, permitiu aumentar a participação de investidores internacionais. A emissão recente de obrigações soberanas e de títulos de governos locais de Guangdong e Shenzhen, incluindo obrigações verdes e azuis, contribuiu para diversificar produtos e elevar a atratividade do mercado. Até outubro, Macau contabilizou mais de mil emissões obrigacionistas, num valor acumulado superior a mil mil milhõe...

 out25 The law provides for a range of fund structures — contractual, corporate (including variable capital corporations), partnership-based — and introduces mechanisms such as umbrella funds, master-feeder arrangements, and fund-of-funds. It also establishes governance obligations for fund managers, custodians, and other service providers, enhancing investor protection and operational transparency. These reforms bring Macau in line with international standards and lay the groundwork for a credible fund market. From an economic policy standpoint, investment funds are essential instruments for capital mobilisation and its efficient deployment. They facilitate the aggregation of savings and their allocation into productive sectors, thereby supporting innovation, infrastructure development, and long-term growth. In the context of Macau’s diversification strategy, a well-functioning fund market could serve as a key enabler. Macau’s economy remains heavily concentrated on gaming and tou...

 out25 MBtv Debates – More guidelines, incentives in pipeline for Macau’s fund industry: AMCM By   Tony Lai Macau’s financial regulator is preparing a series of new guidelines and tax incentives to support the city’s Investment Funds Law, which comes into effect on 1 January 2026, aiming to build a competitive ecosystem for the local fund industry. The remarks were made by Amy Ho, Banking Supervision Department senior officer at the Monetary Authority of Macau (AMCM), during a panel discussion on Wednesday evening jointly held by  Macau Business magazine  and the Rui Cunha Foundation. The MBtv Debates session, titled  “Macau’s New Investment Funds Law: Prospects, Opportunities, and Challenges,”  also brought together legal and industry operators  to evaluate the city’s next steps. In addition to AMCM’s Amy Ho, the panel included Bernardo Alves, chairman and chief investment officer at A&P Investment Fund Management Company Limited; Calvin Tinlop Ch...