The Yu 'ebao money market fund docked by Alipay Li Yu 'ebao and the Yunshangbao money market fund docked by online merchant bank account for 98.35% of the total fund size.
As shown in the following figure, the scale of Tian Hong Fund is 1990438 million, of which the scale of Tianhong Yubao is168965438+85 million, and the scale of Tianhong Commercial Treasure is 268.462 billion. Compared with the second domestic E Fund Management Co., Ltd., the scale of public offering is 667.054 billion, which has nearly tripled.
However, judging from the relevant ratings of Tian Tian Fund, the rating of Tian Hong Fund is not ideal, which is better than that of most fund companies. It only gives Samsung a rating, probably because its management scale is mainly money funds! Fund companies and fund managers don't have to be in charge, for example, they don't have to have keen intuition about the market, and they don't have to make strategic judgments about the market.
Viewed from the side, although Tian Hong Fund is the largest in China, and may even be the largest in the world, it may not earn as much money as other funds, because the management fee of fund companies in monetary funds is very low, 0.25% per year, while the stock funds of other funds can charge 1.5% per year.
If Tian Hong Fund does not have the background of Ant Financial Services, it is obviously impossible to become the largest fund company in China. Excluding Yu 'ebao and Yu Bao Li, it ranks 55th in Public Offering of Fund (about 32.8 billion).
However, there is one more thing to say here. Now the upgrade of Yu 'ebao may lead to a rapid decline in the size of Tian Hong Yu 'ebao. Mainly in the "Guiding Opinions on Further Standardizing the Internet Sales and Redemption of Money Market Funds" jointly issued by the CSRC and the People's Bank of China on June 1 this year, it is mentioned that from June 65438+February 1, other financial institutions except commercial banks cannot make advance payments, that is to say, if the sales organization of Tian Hong Yu 'ebao does not change from Alipay to online merchant bank or other banks, then Tian Hong Yu 'ebao is existing.
So upgrading is also an inevitable result. For example, the four newly added money funds are all sold by online merchant banks, which are isolated from the upgraded balance treasure, emphasizing the irreversibility of the upgrade.