Ant Financial’s Yu’e Bao Caps Daily Investment At $3,000

www.oann.com | 11/1/2016 | Staff
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BEIJING (Reuters) – Ant Financial’s money market fund will cap the daily amount users can invest at 20,000 yuan ($3,000) from Friday, said Tianhong Asset Management Co Ltd, which manages the fund.

The decision to impose a daily cap comes six months after Tianhong set a total investment cap of 250,000 yuan per person for the fund, amid heightening regulation of online lenders.

Ant - Financial - Payment - Affiliate - Alibaba

Ant Financial is the payment affiliate of Alibaba Group Holding Ltd.

In a statement on Thursday, Tianhong said it made the changes “to safeguard the interests of investors, better service public investors and adhere to our position as a small cash management tool.”

Chinese...
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