KIC leaves Alibaba for Baidu shares in the US
The Korean sovereign wealth fund has divested all $221.5 million worth of its Alibaba equity investments in the US and increased its Baidu holdings by 450% by the end of June.
Tag : tencent
Tianhong AM wary of mobile app costs
Chinese fund houses are increasingly selling products via smartphone, but marketing mobile platforms does not come cheap, and competition is heating up.
Chinese travel agent can ‘carve niche’ in funds
Online travel agent Tuniu Finance has started selling funds run by China Universal and is tipped to benefit from analysing its customer data to make product recommendations.
Alibaba debuts mobile fund platform in new fintech push
Chinese e-commerce giant Alibaba has launched its mobile wealth management app, which will distribute nearly 900 mutual funds. It comes just days after rival Tencent announced its own WeBank app launch.
Tencent makes funds splash with launch of WeBank app
China’s first private internet bank WeBank has launched its mobile digital platform, which will distribute six actively-managed funds from China Universal AM and Bosera Funds.
Spotlight on China fintech as P2P player moves into funds
A peer-to-peer internet finance firm has acquired a mutual fund house stake, creating China's latest fund-tech partnership. Others are expected to follow suit in the wake of Alibaba and Tianhong's barnstorming success.
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