WeChat’s Licaitong fund product saw its annualized yield rise to 7.34 percent on Tuesday, less than one week after internal testing began, Shanghai Securities News reported Wednesday, citing the company. Tencent Holdings Ltd. (00700.HK) unveiled the product with ChinaAMC Capital Management Ltd. on Jan. 15. The figure compares with a 6.46 percent yield by Alipay’s Yu’e Bao, a mutual fund product jointly run by Alibaba and Tian Hong Asset Management, the report said. Licaitong will be officially launched on Wednesday. A minimum investment requirement of 8,000 yuan (US$1,311 will be abolished, the report said.
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