Invest in AI: Part 4. MooMoo Cash Plus with ChatGPT

This is part of the Invest in AI series.

Besides having stocks, ETFs and mutual funds in our AI portfolio, Mooers can set aside some moolah in FUTU ( $Futu Holdings Ltd(FUTU.US)$ ) MooMoo Cash Plus. The money in MooMoo Cash Plus can come in handy when Mooers are buying the dips or waiting for better opportunities in the stock market, such as buying stocks, ETFs and mutual funds in the AI, semiconductor and robotics industries & sectors.

Currently, FUTU MooMoo Cash Plus comes in 2 flavors: SGD and USD. The Fullerton SGD Cash Fund ( $Fullerton SGD Cash Fund(SG9999005961.MF)$ ) is the SGD currency class fund in Cash Plus, while CSOP USD Money Market Fund ( $CSOP USD Money Market Fund(SGXZ96797238.MF)$ ) is the USD currency class fund in Cash Plus. As of now, both funds are currently giving at least 3.8% yield p.a. for the past 7 days. These money market funds can be used to buy stocks, ETFs and mutual funds, either by manually performing a redemption of the fund or automatically if Mooers is using the SmartSave function.

Besides the MooMoo Cash Plus, FUTU MooMoo also has other money market funds such as the BNP Paribas USD Money Market Fund ( $BNP Paribas USD Money Market(LU0012186622.MF)$ ), which give at least 4.8% yield p.a. for the past 7 days.

In the near future, I hope to see more money market funds for key currency classes such as JPY ( $JPY/SGD(JPYSGD.FX)$ , $JPY/USD(JPYUSD.FX)$ ), EUR ( $EUR/SGD(EURSGD.FX)$ , $EUR/USD(EURUSD.FX)$ ) and GBP ( $GBP/SGD(GBPSGD.FX)$ , $GBP/USD(GBPUSD.FX)$ ), given that that Central Banks such as the ECB had raised their interest rates in 2023 as the underlying inflation pressures remaining high (*1, *2). Also, the GBP currency class will enable Mooers to invest in the London Stock Exchange once it is available in the FUTU MooMoo platform.

Hmm... I wonder what is the weightage of MooMoo Cash Plus in Mooers account.

We have come to the end of today's topic. Remember to show your support by follow, like, share and comment on this post and as always, don't forget to DYODD (Do your own due diligence) when making any kind of investment.

References:

*1: European Central Bank raises rates by 50 basis points, pledges further hike in March

*2: ECB could still need big rate hike beyond March, Nagel says