1, the bank deposit interest rate has dropped. For example, most money funds are investment bank deposits or government bonds, and the decline in bank deposit interest rates will also lead to a decline in fund income.

2. Risk control. At the beginning, only Tian Hong was a monetary fund, and all the money put in Yu 'ebao was bought by Tian Hong Fund. The huge amount of funds means that projects with slightly higher returns can't be invested, so it is necessary to control risks and only choose projects with low returns, resulting in lower and lower returns of Tian Hong Fund.