Jan 15, 2022 06:47 AM

FINANCE

China Reins in Ant’s Yu’e Bao and Other Giant Money Market Funds

By Quan Yue and Denise Jia

Tianhong Yu’e Bao had 764.6 billion yuan in assets under management as of September.

Tianhong Yu’e Bao had 764.6 billion yuan in assets under management as of September.

China’s securities regulator strengthened supervision of major money market funds under draft rules published Friday in a move that could the affect the largest such fund managed by Ant Group.

Major funds are defined as those with more than 200 billion yuan ($31.49 billion) in net assets, or with more than 50 million investors, according to the rules issued by the China Securities Regulatory Commission (CSRC).

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