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15 more fund firms on Taobao
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A second batch of fund management companies have opened sales outlets on Taobao as they seek to attract younger investors.
The 15 domestic and joint-venture fund houses will do direct sales on Taobao’s fund platform since it was launched on November 1.
“Taobao is good at providing a sound shopping experience and we are good at offering varieties of products,” said Xu Wenyuan, fund manager of Shenzhen-based Bosera Fund. “We wish to set a low threshold and develop investment habits of ordinary consumers.”
There are now 32 fund management companies operating outlets on Taobao.
The first group of 17 fund management companies sold a combined 430 million yuan (US$71 million) worth of products in November.
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