Ant Financial’s money market fund Yu’e Bao (余额宝) is putting a cap on daily subscription volume starting today (February 1st) said Tianhong Asset Management, the firm that manages the fund.
The fund manager released an announcement yesterday that reads: “From February 1st to March 15th, 2018, Tianhong Asset Management will adjust the rules, putting a cap on daily subscription volume…”
During the said time period, effective today, Yu’e Bao starts accepting subscription at 9 am every morning and stops issuing subscription when the daily cap is reached. According to the announcement, daily volume cap will be adjusted according to the number of subscriptions, redemptions, and other conditions. The automatic inward transfer service will also be temporarily suspended during this time. However, other features on the platform are not affected by the adjustment.
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.
Monthly Membership
Yearly Membership
What you get
Full access to all premium content and our full archives
Members'-only newsletters
Preferential access and discounts to all TechNode events
Direct access to the TechNode newsroom
Start your free trial now.
Get instant access to all our premium content, archives, newsletters, and online community.