 "Ant Financial's Yu'e Bao to cap personal accounts at 250,000 yuan")
Ant Financial's money market fund Yu'e Bao will cap individual investment at 250,000 yuan ($36,475) from May 27, said Tianhong Asset Management Co, which manages the fund.
Ant Financial, which confirmed the cap, is the payment affiliate of Alibaba Group Holding Ltd.
Set up in 2013, Yu'e Bao, which translates literally as "leftover treasure", had 1.14 trillion yuan ($166.27 billion) of funds under management at the end of the first quarter, making it one of the biggest money market funds in the world.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app