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"In order to promote Yu'e Bao, Mr. Wang is also hard enough, and almost all the private money he saved is saved into Yu'e Bao's account......"

"The annualized rate of return of Yu'e Bao is nearly 6%, which is double the bank's one-year fixed deposit!"

"Yue Bao, the best place for Chinese people's pocket money. Pen %Fun %Pavilion www.biquge.info"

"10,000 yuan to save Yu Bao, the current daily rate of return is 2 yuan ......"

"Yu'e Bao is backed by a small partner group, with hundreds of millions of small partner wallet users and hundreds of billions of deposits. Even if one-tenth of the wallet deposit is transferred to Yu Yu Bao, it is expected that Yu Yu Bao will become the overlord of China's monetary fund! ”

On March 15, Yu'e Bao was launched for testing, and Mr. Wang Qinian, as the first user to participate in the public beta of Yu'e Bao, deposited 5 billion yuan in cash. Mr. Wang humorously said that in the future, pocket money will count on the interest of Yu Bao. ”

"More than 3,000 senior executives of small partners responded to the call and deposited more than 100 million yuan of pocket money into the Yu'e Bao account."

"As of 3 p.m., the deposit amount of Yu'e Bao has approached 10 billion yuan."

On March 15, 2011, the news of Yu Bao began to be overwhelming. This also became the biggest news in China's Internet industry in the first quarter.

Even Wang Qinian took out all his private money and deposited it into the Yu'e Bao account set up by the company. It is equivalent to him giving himself out and giving a product "endorsement"!

As for the small partner company, the executives followed the trend and took out a sum of cash to buy the share of Yu'e Bao, in fact, it was not another money. In itself, the partner company is a company with a high degree of Internet, and the third-party payment tools used by its employees are mainly their own partner wallets. Employees and executives buy Yu'e Bao shares, but they transfer the pocket money that is usually kept in their wallets and does not generate interest to Yu'e Bao, which generates interest every day.

Next, the beta version of Yu Bao already has a lot of fans who worship Wang Qinian, and feel that Wang Qinian's reputation is very reliable users, and they began to try to transfer funds to Yu Bao's account.

Relative to most wealth management products.

Yue Bao account. Subscription and redemption funds, the handling fee is 0!

As for the annualized management fee, it is roughly 0.6%, but it is almost negligible on a daily basis. It does not affect the interest of Yue Bao exceeding the one-year deposit of the bank.

After deducting 0.6% per annum, the current annualized income of Yue Bao is as high as 6%.

Among them, there are also partner companies that take advantage of their own advantages to participate in the agreement deposit projects of several major banks. Agreement deposits, generally when the bank is short of money. will be able to collect savings at high interest rates, and sometimes, even higher than ordinary loan interest rates. At that time, this kind of agreement deposit was not the norm, and when there was a period of bad money, the yield of the money market fund might rise, and if the market was not bad money, the interest rate of the money market fund would fall.

In addition to protocol deposits, there are other spreads in the market. For example, when the money is poor. The reverse repo rate on Treasury bonds will skyrocket. Tianhong Fund, a subsidiary of the small partner, will also increase deposit income by participating in reverse repurchase.

Of course, these operations do not occupy a large scale of money market funds, and the main income of money market funds still comes from the interest on bank deposits.

In terms of security, the yield of the product exceeds the interest of the bank's one-year fixed deposit. As a result, many people began to be tempted and began to transfer more funds from the bank to Yu Yu Bao......

And that's just the beginning!

……

After the establishment of the small partner financial holding. The Internet money fund Yu'e Bao, launched by the small partner wallet and Tianhong Fund, began to rise with an unstoppable momentum.

Tens of billions of dollars in one day!

The next day, more than 7 billion yuan of new deposits were added.

On the third day, the scale of Yu'e Bao has grown to 30 billion. It has surpassed the similar products of money market funds under the major public offerings in China!

In fact, money market funds have existed in China for a long time, but for a long time, they have not been taken seriously by funds, banks and other institutions.

Fund companies are more keen to promote profitable stock bases, and stock fund customers are very active. Continuous subscription and redemption, and send subscription fees and redemption fees to fund companies. The cost of subscribing and redeeming is at least more than 1%. As long as you subscribe and redeem 100 times, you will pay a fee equivalent to the principal amount invested. To put it simply, a one-time subscription and redemption is equivalent to contributing a year's management fee to the fund company in advance. Reducing subscription and redemption, the fund company earns management fees, and more or less can make a sum of money.

As for money market funds, since the subscription and redemption are free, the management fee is relatively low. Therefore, public funds are rarely willing to expand and strengthen money market fund products.

In terms of banks, they were the first to engage in money market funds, but they don't seem to be very keen on this kind of chicken rib product. There are a large number of users in the bank themselves who do not have financial awareness, and even a considerable part of the cash is demand deposits. There is no need for banks to remind people to buy money market funds in order to earn interest over demand deposits.

If savers have increased their awareness of deposits and financial management. Banks will certainly be upset because a large number of demand deposits have become money market funds, which means that banks have to pay more interest costs.

Money market fund managers are not as foolish as ordinary depositors.

With the addition of money market fund managers, it can be said that the larger the size of the money market fund, the more interest banks have to pay on deposits.

In the history of the development of monetary funds in the United States, it was also resisted by banks.

China...... For a long time, the products of money market funds have been deliberately refrigerated. Banks are reluctant to promote their own money market fund products.

Fund companies and securities companies, because the profits of money market funds are relatively low, and the market size is relatively low for a long time, are not willing to do this kind of drudgery.

It is precisely for this reason that the Yu Bao launched by the small partner is so shocking to the world.

The popularity of Yu Yu Bao actually has some negative effects, which has stimulated the public's financial awareness. As a result, some high-risk financial projects have also begun to be able to fool more investors.

After all, many investors don't even have time to read a contract of dozens of pages for a product. Investors who sign up to buy products without looking at the contract account for the vast majority.

It is precisely because of this that a lot of scammers are given an opportunity to take advantage of it.

Therefore, Wang Qinian's version of Yue Bao resolutely avoids advocating unhealthy trends such as "high returns". Many of the high-yield products are high-risk, and even malicious products with bad intentions in the first place. There are stupid investors who go for interest, but some bad projects go directly to the investor's principal!

As a conscientious businessman, Wang Qinian pays attention to it, and it is best to be a win-win situation. You can make money yourself, customers don't lose money, and you can even get benefits.

Therefore, the Internet finance of small partners is mainly based on money market fund products whose security can stand the test of history. Only products that are close to the risk-free rate of return will be introduced to the market. Although, close to the risk-free rate of return, the return is bound to be very low.

Ordinary investors cannot be expected to have enough financial knowledge to distinguish between market risk and moral hazard, but the Internet finance of small partner companies is serving hundreds of millions of users. The first task is to at least ensure the safety of the user's principal, and only under this premise can we consider creating more interest for the user.

As for the expansion of the size of the money market fund, whose interests are suffering? Bank!

The size of the money market fund is relatively small, and the impact on banks is still limited.

If the scale of the money market fund reaches 1 trillion yuan, the bank will have to pay at least 20 to 30 billion yuan more interest every year! If the size of the money market fund reaches 10 trillion, the bank will be in pain!

Who gains? Savers!

At the very least, the popularity of money market funds has allowed depositors to popularize some financial experiments. Even if depositors do not choose money market funds, they have begun to pay attention to interest rates, and they have become sensitive to the interest and terms of bank deposits, so that depositors are not as simple as before. How simple was it before...... Many depositors are even current deposits!

Among them, the Agricultural Bank of China is the most happy, because there are the largest number of farmers among the depositors of the Agricultural Bank. Farmers as a whole have the worst sense of financial management. As a result, the Agricultural Bank of China has the largest demand deposits. With the bottom operating level of the ABC among the four major banks, it has still achieved good growth, mainly because the depositors of the ABC are actually shallow in their financial management and have a large number of demand deposits. As a result, even if the level of the Agricultural Bank is relatively poor, it can still obtain good returns.

To put it simply, the higher the quality of a bank's customers, the lower the bank's profitability. Some star banks, favored by high-quality talents, are actually more expensive to operate. The bank of choice for a bunch of thieves and financiers looks beautiful, but in fact, the bank has a hard time. (To be continued.) )

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