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World’s Largest Money-Market Fund Will Lower Its Returns, Shed Risk
Alibaba spinoff Yu’e Bao is making changes to comply with new Chinese investment rule
Sept. 25, 2017 5:30 a.m. ET
BEIJING—The manager of the world’s largest money-market fund said it would take steps to reduce risk in its investments and lower the lofty yields that have helped draw a flood of cash into the fund over the past year.
Tianhong Asset Management Co., a Beijing-based company that manages a money-market fund with more than $200 billion in assets, is making changes to comply with liquidity rules imposed recently by Chinese regulators,...