Firms withdraw monetary fund products from Taobao over service fee  

淘宝拟调整收费规则 多家基金公司货基产品“收摊”

近日，《每日经济新闻》记者浏览基金公司淘宝店发现，不少公司开始下架店内的货币基金。究其原因，则是源于淘宝方面将对收费规则调整。有知情人士告诉记者，淘宝方面拟向基金公司征收销售服务费，征收标准为每笔交易额的千分之三。 [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its monetary fund products would be taken off the shelf by September 30, while China Asset Management has already withdrawn its products.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.