Alibaba’s payment affiliate Alipay announced today its mutual fund Yuebao has generated RMB24 billion (US$3.86 billion) in investment returns for more than 185 million users in 2014. The fund’s assets under management (AUM) hit RMB578 billion, more than triple the RMB185.3 billion assets achieved in 2013.

Going by these figures, Yuebao’s users hold an average RMB3,133 worth of assets per capita as of the end of last year. The fund has generated RMB25.79 billion investment returns since its establishment in 2013, or an average yield of RMB139 for each user.

Launched in 2013 as an online financial service by Alipay, Yuebao has become an instant financial service powerhouse on the strength of Zenglibao, which is run by Tianhong Asset Management and sold exclusively through Yuebao. It has become the China’s largest, and the world’s fourth largest, money market fund as measured by AUM.

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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.