Date
18 October 2017

Tencent, Alibaba in Valentine’s Day fund clash, paper says

Tencent Holdings Ltd. (00700.HK) and Alibaba Group are set to lock horns again in the online funds arena as they launch new products on Feb. 14, Valentine’s Day, the Shanghai Securities News reported Thursday. Alibaba is set to launch a one-year investment product with a return of up to 7 percent for existing customers of Yuebao, an online money market fund. Meanwhile, Tencent is cooperating with Shanghai-based asset management company Galaxy AMC to roll out an index fund product, dubbed Dingtoubao, the report said.

– Contact HKEJ at [email protected]

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