Yu E Bao Deals with the Pressure of Being No. 1

(Beijing) – It took less than seven months for the fund company that manages Yu E Bao to become the country's largest public funds manager, a place that China Asset Management Co. held for seven years.

As of January 15, Yu E Bao has more than 250 billion yuan in investment from over 49 million users, says Tian Hong Asset Management Co., the company that manages Yu E Bao. That makes it the 14th-largest money market fund in the world, data from Bloomberg shows. Combined with other investment funds, the amount managed by Tian Hong has exceeded 260 billion yuan.