Comment on Alipay’s Mutual Fund Service Yu’e Bao Celebrates 1st Anniversary with US$92Bn AUM by Personal Finance Apps Boom in China - TechNode

['Emma Lee', 'More Emma Lee', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-07-03 00:00:00

Yu’e Bao, Alipay’s fast-growing mutual fund service that triggered an online finance craze in China, recently released some key stats after one year of operation. The fund claimed more than 100 million users and RMB 574.1 billion ($92 billion) in assets under management (AUM) at the end of June. Yu’e Bao ‘s AUM grew 6% in the second quarter, up from RMB 541 billion in AUM on March 31. Demographic patterns for Yu’e Bao users held steady, with young people under the age of 30 forming the bulk of investors, according to press release from Alipay. The average investment amount increased 17 % to RMB 5,030 from RMB 4,307.