Bundle INFO's  Instablog

Bundle INFO
Send Message
  • WeChat Will Launch New Financial Product: Quan Ebao 0 comments
    Mar 21, 2014 6:18 AM | about stocks: TCTZF, BABA


    WeChat will launch Quan Ebao, an Internet money market fund managed by China Universal Asset Management Co Ltd this weekend.

    • The annual return of Quan Ebao exceeds 6%. The fund was established in December 2013, currently only sold through online channels operated by China Universal Asset Management. The 7-day annualized yield of Quan Ebao is 6.31% on March 20,.

    • WeChat cooperates with a number of fund companies. Users can freely choose available financial products. Apart from China Universal Asset Management Co Ltd, GF Fund Management and E Fund Management Co Ltd are also working on technical preparation for cooperation with WeChat and related products are expected to be on line after the system is running stably. In the early 2014, WeChat launched the first financial product which was cooperated with China Asset Management Co Ltd. Six days after its launch, it had raised over 10 billion yuan . When it was first launched, the 7-day annualized yield once exceeded 7%, but now is less than 6%.

    Stocks: TCTZF, BABA
Back To Bundle INFO's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.