BEIJING May 26 Ant Financial's money market
fund Yu'e Bao will cap individual investment at 250,000 yuan
($36,475) from May 27, said Tianhong Asset Management Co, which
manages the fund.
Ant Financial, which confirmed the cap, is the payment
affiliate of Alibaba Group Holding Ltd.
Set up in 2013, Yu'e Bao, which translates literally as
"leftover treasure", had 1.14 trillion yuan ($166.27 billion) of
funds under management at the end of the first quarter, making
it one of the biggest money market funds in the world.
($1 = 6.8540 Chinese yuan renminbi)
(Reporting by Cate Cadell and Beijing Monitoring Desk; editing
by David Clarke)