The fund invests in a range of short-term investments including liquid short-term bonds and cash deposits for both retail and institutional customers.
The minimum that can be invested in the fund is RMB$1,000.
It has raised around RMB$11.9 billion or AUS$2.2 billion so far from its initial public offering period.
AMP Capital chief executive Stephen Dunne said he was delighted the joint venture team has been able to bring the China Life AMP Money Market Fund to Chinese investors just months after the joint venture was established.
“The launch of China AMP Asset Management late last year represented a great step forward for AMP Capital in Asia, one of our four key markets,” said Mr Dunne.
According to Mr Dunne, the fund analyses macroeconomic factors, monetary policy and credit supply to forecast the trend of the yield curve while also considering liquidity and the risk profile of different instruments.
He said the fund will attract investors seeking both yield and liquidity.
“We are very pleased with the level of support we’ve seen and look forward to providing Chinese domestic investors with additional investment products down the track.”
AMP Capital owns a 15 per cent stake in the joint venture while China Life Asset Management holds the rest.
AMP and China Life Insurance have had a formal relationship for close to eight years and signed a Memorandum of Understanding for strategic cooperation in August 2009.
