Global EditionASIA 中文双语Français
Home / Business / Finance

China's largest money market fund Yu'ebao sees slowest asset growth in Q1

Xinhua | Updated: 2018-04-24 00:04
Share - WeChat

BEIJING - China's largest money market fund Yu'ebao had its slowest Q1 asset growth in the first quarter of this year.

The online money market fund, managed by Tianhong Asset Management Co., Ltd, a subsidiary of Alibaba's Ant Financial Services Group, saw its assets grow 6.9 percent in the first three months of 2018, the slowest Q1 expansion since its establishment in 2013.

Yu'ebao had about 1.689 trillion yuan (about $268.2 billion) under management by the end of March.

The money market fund has introduced a string of purchase limits since the end of 2017 to guard against financial risks, which might be a major drag on its assets growth pace.

Yu'ebao had 474 million users by the end of 2017, with more than 99 percent of them individual investors holding an average of 3,329.57 yuan in each account.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349