Firms withdraw monetary fund products from Taobao over service fee  

淘寶擬調整收費規則 多家基金公司貨基產品“收攤”

近日，《每日經濟新聞》記者瀏覽基金公司淘寶店發現，不少公司開始下架店內的貨幣基金。究其原因，則是源于淘寶方面將對收費規則調整。有知情人士告訴記者，淘寶方面擬向基金公司征收銷售服務費，征收標準為每筆交易額的千分之三。 [查看全文]

(ECNS) -- A number of companies selling monetary fund products on Taobao have started withdrawing their merchandise in response to the platform's new plan to charge a service fee, National Business Daily reported.

According to Taobao's new measure, the fund companies need to pay a 0.3 percent fee on the value of each deal.

GF Fund Management announced its monetary fund products would be taken off the shelf by September 30, while China Asset Management has already withdrawn its products.

An unnamed insider surmised the move was intended to benefit Yu'e Bao, a fund management platform under Alibaba, and also the parent of Taobao. "Alibaba doesn't want to see other currency fund products win over its Yu'e Bao users," the insider stated.

On the other hand, it would turn in favor to index funds, amongst others, which are charged a 0.6 percent commission.

A total of 32 companies are selling fund products via Taobao. Except for Fullgoal, CCB Principal Asset Management and GF Fund Management, most firms have faced the cold shoulder on the online platform.

For them, it's hard to profit by using Taobao when directly competing with Yu'e Bao.

Another insider in Shanghai said the profit potential on Taobao has yet to emerge.