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.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.