余额宝成为全球最大的货币市场基金
Chinese e-commerce giant Alibaba's Yu'e Bao has become the world's biggest money market fund, overtaking JPMorgan's US government money market fund, reports the Financial Times.
《金融时报》报道，中国电商巨头阿里巴巴旗下的余额宝超越摩根大通美国政府货币市场基金，成为全球最大的货币市场基金。
Launched in June 2013, Yu'e Bao has an estimated USD 165.6 billion under management, surpassing the JPMorgan fund by more than 15 billion dollars.
Yu'e Bao is an online fund established by Alipay, China's largest third-party payment platform and a subsidiary of Alibaba, together with the private Tianhong Fund. Yu'e Bao gives its over 300 million users the option of directly channeling spare money from their accounts into high interest funds.
According to the Financial Times, analysts are playing down the risks from such a sizeable fund as the absence of big single investors makes any re-allocations less likely. Liquidity risks may be higher than other funds due to the huge size of Yu’e Bao, they believe.