Tencent’s wholly-owned subsidiary TX Fund launches investment advisory business

TX Fund, a fund sales company under Tencent recently launched investment advisory business called “Yiqitou” (to invest together) on WeChat.

TX Fund, a fund sales company under Tencent recently launched investment advisory business called “Yiqitou” (to invest together) on WeChat.

From August 12, investors can experience the advisory services through making an appointment on WeChat Pay. Users can find “Yiqitou” by entering “Licaitong” in “My WeChat”. In the future, the service can be opened to all WeChat users.

The most outstanding feature of “Yiqitou” is that it gives advice from the perspectives of the users, and collects service fees regularly every year without charging the subscription fees for the fund and the adjustment fees. The investment advisory service fee is calculated based on the daily assets held by the investors, and charged on the first trading day of each quarter or upon redemption.

At present, the “Yiqitou” has only launched two types of portfolios, one named China-Europe Superstock All-Star, and the other named Investing in the South to Increase Profits.

Since the launch of the pilot fund investment advisory services in October last year, the China Securities Regulatory Commission has approved 18 pilot fund investment advisory institutions in three batches.

Of the 18 institutions, 6 institutions have launched investment advisory services, namely, Southern Asset Management, China Asset Management, Harvest Fund, Zhong Ou AMC, Ant Group and TX Fund. The remaining institutions have not disclosed their business information to the public yet.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/12/tencents-wholly-owned-subsidiary-tx-fund-launches-investment-advisory-business/.

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