Holding quantity of leading online wealth management funds in China Q1 2021, by type
In the first quarter of 2021, the holding quantity of Fund123 amounted to 572 billion yuan in stock and mixed funds and 890 billion yuan in non-money market funds. The fund was part of Alibaba's AntGroup financial ecosystem. Other funds have large financial institutions behind them as well, for instance, Ying Mi Fund and Lufunds are backed by Ping An Bank.