Caixin
FINANCE

Growth Picks Up at World’s Largest Money Market Fund

Founded in 2013, Yu’e Bao has ballooned in size as millions of users migrate to its affiliated online-payment application, Alipay. Photo: VCG
Founded in 2013, Yu’e Bao has ballooned in size as millions of users migrate to its affiliated online-payment application, Alipay. Photo: VCG

*Yu’e Bao’s assets grew by 6.92% in the first quarter, up from the last quarter of 2017, but down from 8.9% in the third quarter

*The country’s money market funds as a whole grew by 23.69% and 6.79% in the third and fourth quarters of last year

Growth of the world’s largest money market fund picked up speed in the first quarter following a subpar expansion in the second half of 2017 amid regulatory pressure to cap investor contributions.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2018 Caixin Global Limited. All Rights Reserved.