Fund earnings fall
Source: Agencies |
January 27, 2016, Wednesday
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Print Edition
Print Edition
ONLINE wealth-management fund Yu’ebao said yesterday that its investment earnings fell 3.8 percent last year to 23.1 billion yuan (US$3.5 billion), though its total assets rose 7.2 percent to 620.7 billion yuan.
The number of investors in the fund, established by Alibaba’s small financial services arm in 2013, rose 42 percent year on year to 260 million, of which just over 15 percent were based in rural areas, the company said.
Beijing accounted for more individual investors than any other city on China’s mainland, followed by Shanghai, Guangzhou, Shenzhen and Chengdu, it said.
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