At the end of March 2011, a news article - "Internet Finance Subverts Money Market Fund, Yu'e Bao Issued 30 Billion in Three Days" caused huge repercussions at home and abroad. Pen, fun, and www.biquge.info

Overnight, Yue Bao quickly swiped the screen on the Internet!

"What is a money market fund?"

"Is Yue Bao unreliable?"

"Of course, it's reliable, the products of the little partner, Wang Qinian himself deposited 5 billion yuan in it, Boss Wang's money is estimated to be equivalent to the bank's deposit margin, with his stable long-term funds, Yu Bao naturally can't be more stable. What's more, the credit rating of the small partner group has always been the highest credit rating in the world! ”

"The third-party payment tool of the small partner's wallet is conscientious, and it actually pays interest to users, which is higher than Alipay and Tenpay, I don't know where it goes......"

"I have prepared my salary and saved the balance treasure, so I can save worry and effort and have interest every day, and it is more convenient to buy things online."

Gather sand into a tower, accumulate a lot. Although Yu'e Bao's customers usually have very little capital, we cannot ignore the advantage of the scale of users on the Internet platform. There are hundreds of millions of registered users of the small partner wallet, these are basically active users, and they have saved a little cash.

In this way, within three days of the release of Yu'e Bao products every day, it will reach 30 billion, which exceeds the traditional money market fund!

You must know that the scale of the money market fund of Huaxia Fund, the leader of domestic public funds, is only about 20 billion yuan.

The virtue of the public fund is to cater to the market demand, when everyone is keen to buy stocks in the bull market, the public offering continues to recommend stock funds to customers, no matter how big the bubble is, how high the risk is, as long as the scale of the fund rushes up, whether it is a profit or a loss, the fund company is a drought and flood to ensure income. Clients buy fund products with money, and the subscription fee is in hand. Clients hold fund products, and the daily management fee is allocated to bring income to the fund over time. The client redeems the fund. In many cases, a redemption fee is required.

Money market funds generally do not need to pay subscription fees and redemption fees, but they can still earn daily management fees. When the market is bearish. Even if the stock is very cheap, it is always offensive for the customer to recommend the customer to buy the stock base when he is pessimistic. So, when the fund company is in a bear market. We often recommend products that earn interest steadily to our clients, and we must have money market funds.

The bull market recommends high-risk products to customers, and the bear market recommends low-risk products to customers. In short, developing and maintaining the total size of the fund as much as possible is the main strategy of the public fund.

The source of customers of the money market fund of the partner company is different from that of the traditional fund company. Traditional fund companies mainly develop customers from banks and securities companies. Bank counters and equity investors, which are the fund's main sources of customers.

However, the customers of small partners are not mainly investment and wealth management customers. It is more mainly consumers of Internet third-party payment channels. Usually, consumers generally do not save a lot of money in the payment account, and deposit a small amount of cash. It is mainly to shop on e-commerce websites, as well as to recharge many platforms on the Internet that require payment. A considerable number of users have not saved money in their payment wallets for a long time, and even a few cents and a few dollars have a balance.

A few dollars of business is impossible for a general money market fund to accept. The threshold of most money market funds is at least tens of thousands of yuan before accepting subscriptions and redemptions from customers. For the wealthy with a relatively large capital chain, the traditional money market fund is actually very convenient, and the interest will not be lower than that of Yue Bao.

But for the average person. If you take out tens of thousands of dollars to buy money market funds at once, the threshold is very high, so what is the difference between it and a fixed deposit?

Like Yu'e Bao, a wealth management product with zero threshold and any amount of money can be deposited. It did roll up a storm on the Internet. Most users didn't dare to transfer too much money to Yu'e Bao at first, and took dozens of yuan, hundreds of yuan, and even, some cash of a few yuan was transferred.

In this regard, Yu Bao does not refuse. All requests for transfers and purchases of any denomination will be accepted. Although this may increase the pressure on the small partner company and the employees of Tianhong Fund, after all, as an Internet giant, the small partner can even make things like an operating system. In terms of technical level, it is already a leading position in China.

Whether it is Lenovo Huawei or BAT in Internet technology, they dare not say that they are stronger than their partners. It seems that the first-class talents in China are keen to defect to the small partner, and after the XOS system of the small partner is internationally renowned, it has great competitiveness in the global talent market. The top talents in Silicon Valley may be recruited by other Chinese companies, but a well-known company such as a small partner company will also attract many big people to join when recruiting people in Silicon Valley.

Every year, the investment in technology research and development of small partner companies has exceeded 10 billion yuan. Such an astonishing R&D investment has gradually been transformed into a foundation in technology and talents.

Therefore, like Yu'e Bao, tens of millions of applications for transfer-in and transfer-out every day, the small partner's wallet can actually do it without any mistakes. At least, there is no mistake in the customer's feelings, even if there is a little bug, it is the result of the rapid development of the technical staff in the background, and it has not affected the experience of ordinary customers of Yu'e Bao.

In addition, Tianhong Fund originally managed more than one billion yuan of funds, and the scale of customers was only tens of thousands. In the fund industry, it is a very small existence.

However, Tianhong Fund's docking product of Yu Yu Bao - Tianhong Tianli Money Market Fund has tens of millions of users and tens of billions of fund scale at an unexpected speed. As a result, all the employees of Tianhong Fund have to work overtime almost every day, busy until the early hours of the morning, and there is also unfinished work.

Of course, Wang Qinian is also very generous, and said to all the employees of Tianhong Fund: "In order to commend everyone's contributions, this year I will take out 1% of the shares of my partner financial holding group as an equity incentive!" The major subsidiaries of the financial holding group compete fairly, the best team gets half of the equity incentive, the performance runner-up is pressed 30%, and the Tanhua team gets 20%! The team at the bottom, no rewards! ”

After these words, the three teams of the little partner financial control began to be tired!

You must know that the prospect of the financial holding company can be felt by the employees who are on the job, and this is a new platform for rapid growth.

Including the Yu'e Bao team, the equity investment team and the venture capital team, the business itself of the three teams is remarkable. The prospects of the major businesses are infinitely bright, so the equity incentive of the financial holding group is also very valuable.

Now, the financial holding company has just been established, and the equity incentive share in the first year has reached as much as 1%. In another year, the scale will gradually increase, and the equity incentive may only be a few thousandths or even ten thousandths of a few years! At that time, it would be difficult to share the dividends of the explosive growth of the financial holding company.

Therefore, the current three teams are all working hard, hoping to get a higher ranking and earn more equity incentives.

Moreover, this competition is based on the collective units of major teams, so it is necessary to pay attention to team cooperation in order to create better performance.

This kind of team-based competition obviously has the meaning of healthy competition more than competition based on the performance ranking of individuals. (To be continued.) )