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The author:(作者)归海一刀
published in(发表于) 2014/3/30 5:37:47
Balance Po born of present and future generations，

Po Po last life balance current and future-balances, PayPal-IT news Last life balance treasure for present and future

Po is a subsidiary of tianhong fund balance increased liberty--a money-market fund, the Fund was founded on May 29, 2013, 2013 in the Po how do balance established?

PO 1, balance growth

By the end of 2013, 89 are in fund management company manages a total of 1552 public placement Fund, the total size is 3 trillion yuan. Po May 2013, only 200 million dollars upon the establishment of the scale balances late that year to 185.3 billion yuan, accounting for 6% of the Fund market, is the largest single fund size rank 2nd and 3rd South Huaxia cash cash increased profits and increased profits only 521 and 43.7 billion yuan, respectively, have obvious advantages.

"Note: an estimated balance of March 2014 Po scale exceeds 500 billion yuan"

2 Bao, who invested balances?

By the end of 2013, a total of 43.03 million individual investors to hold the balance of the treasure. Meanwhile, the ownership of shares in the 20 years of China's stock market only 53.85 million a-share accounts [2], taking into account the many stock investors to hold 2 a-shares in Shanghai and Shenzhen accounts, can be said to balance Po the number of users has exceeded number of stock investors. In addition, the accounts of the Fund (end-2012 data) only 76.36 million [3].

Balance Po users younger with an average age of 28.3 years old, in which college students ages (18-22 years old) account for one-fourth. Corresponding to this is that 2012 fund investors in China by the end of 30 years of age in less than 8%, 40-50, one-third.

Po average balance lower, only 4307, 2012 end of fund investors in China with an average amount of 40,000 yuan.

"Note: as of February 26, 2014, Po users over 81 million balance"

3, earn money, how?

Outstanding 2013 Po income of 2.014 billion yuan, and revenue (92%) interest income from deposits, interest income on bonds and others only 4% per cent and 3% per cent respectively.

Balance Po 2013 annual fee of 224 million Yuan, accounting for revenues of 11%, and other 89% (1.79 billion dollars) is to balance the treasure the net profit available to users.

Fee paid to Po management one day Hiro is 190 million yuan of the fund balances (85% of total cost), including management fees and sales and service charges was 104 million dollars 87 million Yuan, respectively, cost 46% and 39% respectively; China CITIC Bank, the trustee of the Fund has been managed costs 28 million Yuan.

Po 4, balance money where?

Balance Po investment risk is extremely low. Data showed that Po 92% assets are bank balances deposits, 7% is the bond investment.

Po bank balances primarily in term deposits, among which 0.05% is a demand deposit, within 1 month, 1-3 for more than 3 months and months of time deposits, and 29%, and 23% respectively.

[1] data source: http://www.SD.Xinhuanet.com/CJ/2014-03/03/c_119584117.htm

[2] data source: SD monthly statistical report for December 2013

[3] data source: China's securities fund investment professionals Association

Author: Zhang Weiqiang unit: Institute of Tsinghua University in wudaokou, finance Internet financial lab

余额宝的前生今世 - 余额宝,支付宝 - IT资讯
余额宝的前生今世

余额宝其实是天弘基金旗下的一只货币市场基金——增利宝，该基金成立于2013年5月29日，那么在成立的2013年内余额宝表现如何呢？

1、余额宝的成长

截至2013年底，我国境内89家基金管理公司共管理着1552只公募基金，总规模是3万亿元。余额宝2013年5月份成立时规模只有2亿元，年末则达到1853亿元，占基金市场的6%，是国内规模最大的单只基金，规模排名第2和第3的南方现金增利和华夏现金增利分别只有521和437亿元，优势明显。

【注：据估计2014年3月余额宝的规模已超过5000亿元】

2、谁投资了余额宝？

截止2013年底，共有4303万名个人投资者持有余额宝。与此同时，发展20年的中国股票市场中持有股票的A股账户数量只有5385万个[2]，考虑到很多股票投资者持有上海和深圳2个A股账户，可以说余额宝的用户数量已经超过股票投资者数量。此外，持有基金的账户数量（2012年底数据）只有7636万户[3]。

余额宝用户年龄较小，平均年龄只有28.3岁，其中大学生年龄段（18-22岁）占四分之一。与此相对应的是，2012年底中国基金投资者中30岁以下的不到8%，40-50岁的占了三分之一。

余额宝用户平均持有金额较低，只有4307元，而2012年底中国基金投资者平均持有金额是4万元。

【注：截至2014年2月26日，余额宝用户数突破8100万】

3、挣了多少钱，怎么分的？

2013年余额宝的收入是20.14亿元，收入主要（92%）来自于存款利息收益，债券利息收入和其他分别只占4%和3%。

余额宝2013年的费用是2.24亿元，占收入的11%，剩下的89%（17.9亿元）就是余额宝用户能得到的净利润。

在费用中，支付给余额宝的管理人天弘基金是1.9亿元（占费用的85%），其中管理费用和销售服务费分别是1.04亿元和0.87亿元的，分别占费用的46%和39%；基金的托管人中信银行得到了0.28亿元的托管费。

4、余额宝的钱放哪了？

余额宝的投资风险是极低的。数据显示，余额宝92%的资产是银行存款，7%是债券投资。

余额宝的银行存款中主要是定期存款，其中：0.05%是活期存款，1个月以内、1-3个月和3个月以上的定期存款分别占29%、48%和23%。

[1]数据来源：http://www.sd.xinhuanet.com/cj/2014-03/03/c_119584117.htm

[2]数据来源：中国结算统计月报2013年12月

[3]数据来源：中国证券基金投资专业协会

作者：张维强 单位：清华大学五道口金融学院互联网金融实验室

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