Caixin
Mar 22, 2018 06:42 PM
FINANCE

Tencent Money-Market Fund Triples in Three Years

The official website of Licaitong, Tencent Holdings Ltd.'s wealth management platform, shows that the platform had over 100 million users by the end of 2016. Photo: VCG
The official website of Licaitong, Tencent Holdings Ltd.'s wealth management platform, shows that the platform had over 100 million users by the end of 2016. Photo: VCG

Licaitong, Tencent’s wealth management platform, saw the assets under its management triple in three years to over 300 billion yuan ($47.4 billion) by the end of January despite regulatory moves last year to restrain the runaway growth of the money-market fund industry.

This is the first time Tencent Holdings Ltd. has revealed the size of assets under Licaitong’s management in its earnings report, making it difficult to determine how much the fund grew last year.

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