Fund gives lenders run for their money

Assets under management of Yu'E Bao reach $210.5b by June

Yu'E Bao, one of China's most popular internet-based funds, had amassed 1.43 trillion yuan ($210.5 billion) of assets under management by the end of June, which has already exceeded the size of individual deposits at some of China's largest banks.

According to data from Tianhong Asset Management, which runs Yu'E Bao, the assets under management of Yu'E Bao surged some 80 percent in the past six months from around 800 billion yuan by the end of December 2016.