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Rumor: Ant Financial to Invest in Tebon Fund Management
Sina Finance, 2/11/15
Zhejiang Ant Small and Micro Financial Services Group ("Ant Financial"), the financial services affiliate of Chinese e-commerce conglomerate Alibaba Group (NYSE: BABA), and Shanghai-based fund management firm Tebon Fund Management have reportedly already signed a framework where Ant Financial will make a capital investment in Tebon to hold a 30% share, according to a source that is close with both companies. Read More
Yu'e Bao Net Deposits Exceed RMB 100 Bln
Shanghai Securities News, 11/15/13
According to data released by mutual fund management firm Tianhong Asset Management, the company's Yu'e Bao money market product, released in partnership with Chinese third-party payment processor Alipay, now holds net user deposits of more than RMB 100 bln (USD 16.287 bln), making it the first financial fund in China to claim such a figure. Read More
Rumor: Alipay, Asset Management Firm Partner on Balance VAS
DoNews, 6/05/13
An industry source reported on June 4 that Chinese third-party payment processor Alipay is partnering with Tianhong Asset Management on a "balance value-added service" allowing users to purchase money market funds or other financial products directly through the Alipay website. Read More
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