An online investment fund targeting Alipay customers has amassed 2.52 million users within 18 days since its launch on June 13,bottega veneta outlet, becoming China's largest money market fund by subscribers, according to a Monday announcement from Alipay,cheap gucci, China's largest online payment service provider. The online investment fund, the first available on Alipay,gucci bags, is called Yu'E Bao. It allows Alipay users to put money starting from 1 yuan ($0.16) into Zeng libao, a money market fund offered by Tianhong Asset Management Co,hotelwestpoint, an Alipay partner. The total money transferred from Alipay's user accounts into the fund is 6.6 billion yuan, and as of Sunday, 5.7 billion yuan is in the fund,tory burch outlet, as investors are free to withdraw money from the fund to make online payments,www.princealbertparklandhealth.com/prada.html, Alipay said.Alipay user investments into the money market fund averaged 1,912.67 yuan, very small compared with investments into traditional funds,metroenergy, according to Alipay.Money market funds are a type of mutual fund that invests in short-term debt securities and government bonds. They usually generate low returns but are relatively less risky. The fund saw a rare 6.299 percent annualized interest rate for the most recent 7-day period, much higher than the average 3-4 percent return for traditional money market funds in general, thanks to favorable investment timing due to tight liquidity,true religion Outlet, Tianhong told the Global Times in a statement on Monday.But faced with an innovative product,celine bag, not all Alipay users are enthusiastic, as the investment return on a money market fund is not attractive for some younger investors, and middle- aged users see the product from Alipay as less credible than traditional distribution channels such as banks. "I will only put idle money from my Alipay account into the fund, and it won't be much,chloe handbags," a 22-year-old undergraduate told the Global Times Monday. "It is not worth investing as the interest rate is lower.""I will invest my idle money somewhere else, as (the online investment fund) has no advantage,tory burch outlet," Liu Xiao,chloe outlet, a 42-year-old finance director with a trading company, said Monday. She said she feels safer investing in banks,tory burch Outlet, which she finds more credible than an online company.Liang Jialing contributed to this story
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Unless Congress acts to stop it,gucci handbags, interest rates on new federally subsidized student loans are scheduled to double July 1,Cheap chloe bags for sale chloe bags Outlet Online, putting another roadblock between needy students and higher education. And then there’s affirmative action.  The Supreme Court did not rule against affirmative action in the recent case of Fisher vs. the University of Texas at Austin.   However, this does not change the fact that such programs have been severely undercut over the past few decades, a direction that could very well continue in the future.  In my opinion,gucci Outlet, dismantling affirmative action programs strikes at the heart of the black middle class, of which I am now a tax-paying member.
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