The fund was set up originally in 2013 by e-commerce and internet payment giant Alibaba to help users of Alipay invest their idle cash. Photo: Bloomberg

Ant Financial’s Yu’e Bao shrinks 39 per cent, loses top spot as world’s biggest money market fund, says Fitch Ratings

  • Negative real yields and more competition from banks’ wealth management services caused the Chinese fund to shed 39 per cent of its assets
  • Artificial intelligence, data analytics helped Yu’e Bao evolve into a multi-fund platform, as investors’ capital continues to fan out to more fund managers
Topic |   Fintech

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The fund was set up originally in 2013 by e-commerce and internet payment giant Alibaba to help users of Alipay invest their idle cash. Photo: Bloomberg
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