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.

According to recent data from Tianhong Asset Management, Yu’e Bao ‘s fund management company that is majority-owned by Alipay, Yu’e Bao had an average annualized yield of 5.5% since its launch, generating about RMB 11.8 billion in investment income for users. 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.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.