Alibaba Group’s new online insurance management fund Yule Bao (Entertainment Treasure) attracted nearly 100,000 subscribers on its inaugural sale on Monday, the Securities Times reported Tuesday, citing the fund’s official microblog. The “Tiny Times” movie series made by Guo Jianming based on his best-selling novels was the most popular with 73,599 subscriptions. Yule Bao lets retail investors put a minimum of 100 yuan (US$16.10) into selected film and TV productions for an expected annualized return of 7 percent. In addition, subscribers may also get to visit celebrities on the production set. The fund said it will introduce games, TV drama series and even concerts as investment products, the report said.
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