Alibaba-affiliated (BABA.NYSE) Ant Financial disclosed that its consumer-facing Yu’ebao money market fund was worth RMB578.93 billion (about US$93 billion) in assets and that its number of users had quadrupled from the previous year to reach 185 million, Tech In Asia reported. Ant Financial also claimed Yu’ebao’s funds had generated RMB24 billion in value as of the end of 2015, roughly RMB139 per person. However the fund’s size shrunk to about US$87 million last autumn, and while the latest numbers appear to indicate a rebound, its days of rocket-fueled growth may be over.
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