The world's biggest money market mutual fund, overseen by the Chinese billi...
The logo of Ant Financial Services Group, Alibaba's financial affiliate, is pictured at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu Zhang
Tianhong Yu’e Bao scrapped personal investment quota requirements and a daily subscription cap effective April 10, Tianhong Asset Management Co, the fund’s manager, said in a statement late Tuesday. Under the previous rules, individuals were allowed to invest up to a maximum account value of 100,000 yuan and daily investments were capped at 20,000 yuan.
Faced with rising regulatory pressure to shrink its size amid worries over potential systemic risks, Tianhong started to take measures to control the pace of growth of its money market fund in 2017, cutting individual account limits several times.
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