Yu 'ebao is a balance appreciation service launched by Alipay. The user transfers the funds to Yu 'ebao. In fact, they bought a money fund called Yu 'ebao provided by Tian Hong Fund, which can be used for payment and transfer at any time.

Full name of Yu 'ebao Money Fund: Tian Hong Yu 'ebao Money Market Fund is a money fund issued by Tian Hong Fund Management Co., Ltd., with the fund code of 000 198.

Tian Hong Fund is a Public Offering of Fund company approved by China Securities Regulatory Commission in 2004, and it is one of more than 80 Public Offering of Fund companies in China. Manage tens of billions of fund assets and have millions of customers. The CSRC strictly supervises the sales, investment operation and services of the company's products.

According to the information disclosure regulations of China Securities Regulatory Commission, Tian Hong Fund will regularly publish the operational information such as the scale of the funds it manages.

The fund property is completely isolated from the company's own property, and the income from the investment operation of the fund property belongs to the fund property, and the fund investors participate in the distribution according to their investment quota. According to the fund contract, if the fund manager and fund custodian are liquidated due to dissolution, cancellation or bankruptcy according to law, the fund property does not belong to their liquidation property. Therefore, the fund property is still owned by the investor, and the custodian bank will be responsible for transferring the investor's assets back to the investor's relevant account as required.