The affiliate of Chinese e-commerce giant Alibaba has announced a standalone app as part its ongoing push in the online financial services space.

Ant Financial, Alibaba's online payments affiliate, has launched a wealth management app to allow users to invest in hundreds of Chinese fund products.

The smartphone app, called Ant Fortune, offers 900 products from over 80 Chinese fund institutions with no commission fees. Users will be able to invest in Yu'ebao, Ant Financial’s money-market fund, and buy products from Zhaocaibao, an online platform connecting investors with small businesses and individual borrowers. Yu'ebao has attracted more than 40 million investors since its launch in 2013, making it the country's biggest monetary fund, according to reports.

“Ant Fortune aims to provide investment options for those who are left out by the current wealth management products by lowering the entry threshold, and for those who have little time or ‘know-how’ to grow wealth,” Leiming Yuan, general manager of Ant Financial’s wealth management unit, said in a statement.

Ant Financial has also partnered with the Nasdaq, a US stock exchange, to offer Ant Fortune users real-time US trade data, allowing them to track activity of all US-listed equities that trade on the Nasdaq.

“Adding data from NLS provides our clients with access to the most reliable and accurate resources available," said Yuan. "Nasdaq is a trusted global brand and this deal allows us to continue to expand the Asian marketplace and open the door to a new world of investment opportunities.”

The launch follows news of billionaire George Soros selling off most of his stake in Alibaba after the group's share price lost some momentum. Alibaba shares reached historic highs in November last year, according to a report, two months after its record-breaking $25 billion initial public offering on Wall Street. Since November, it has lost more than a third of its value.