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

Updated 2018-04-24 10:18:03 Xinhua

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 U.S. dollars) 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.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58May 22 2018 12:10:43

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16May 22 2018 12:10:43

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18May 22 2018 12:10:43

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords