Tianhong Asset Management

What Tianhong Asset Management does

Tianhong Asset Management (天弘基金管理有限公司) is a China-based public fund management company established on November 8, 2004 and headquartered in Tianjin, operating as one of the country's top-12 licensed public mutual fund managers under CSRC oversight. The company manages 190+ fund products spanning money market (notably the flagship Yu'ebao/余额宝), index, bond, mixed-asset, and pension products, and operates a wholly-owned subsidiary, Tianhong Innovation Asset Management Co., Ltd. (established December 2012), which provides private asset management and asset-backed securities (ABS) products covering consumer finance, automotive finance, and supply chain finance. Its technology stack centers on a digital-first distribution platform: the Tianhong Fund mobile app, a web-based online trading system, WeChat service account and mini-program, and third-party distribution through Alipay and major Chinese banks; onboarding and compliance rely on third-party AI from SenseTime (face/liveness), Alibaba Cloud (OCR), and Antchain (AML/identity verification), with an in-house risk-product matching recommendation engine. Revenue is generated through management fees on AUM (typically 0.3%-1.5% annually) supplemented by performance-based compensation now directly linked to benchmark outperformance under new CSRC/AMAC rules. The company serves two primary segments — mass-market retail investors (the primary segment via digital channels) and institutional clients (via a dedicated 机构业务 division) — and holds ISO 27001:2013 information security certification.

Name

Tianhong Asset Management

Legal name

天弘基金管理有限公司 (Tianhong Fund Management Co., Ltd.)

Website

https://thfund.com.cn

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Tianhong Asset Management is a Tianjin-based, CSRC-licensed Chinese public fund manager (founded 2004) running 190+ products including the flagship Yu'ebao money market fund, serving mass-market retail and institutional investors through digital channels and a wholly-owned private asset management subsidiary.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)

SIC

Investment Advice (6282), Asset-Backed Securities (6189)

akta.pro primary industry

AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE)

Keywords

• Asset management
• Mutual fund management
• Money market funds
• Wealth management
• Fund management services

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Public Fund Management Fees: Tianhong Fund generates revenue primarily through management fees charged on its public fund products. The fees are typically calculated as a percentage of assets under management (AUM). The company manages over 190 fund products including money market funds (Yu'ebao), index funds, bond funds, and mixed-asset funds.
2. Performance-based Compensation: Following regulatory guidance from CSRC and AMAC, fund managers' performance-based compensation is now directly linked to whether they outperform or underperform their benchmarks, creating alignment between fund performance and management compensation.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Tianhong Fund Management provides public mutual fund products and asset management services to Chinese retail and institutional investors, managing over 190 fund products including the flagship Yu'ebao (余额宝) money market fund, index funds, bond funds, and mixed-asset funds. Through its wholly-owned subsidiary Tianhong Innovation, the company also offers private asset management plans and asset-backed securities (ABS) products spanning consumer finance, automotive finance, and supply chain finance for institutional and high-net-worth clients. Distribution is enabled by a digital-first platform spanning a proprietary mobile app, web trading system, WeChat ecosystem, and third-party channels including Alipay and major Chinese banks.

Product overview

Tianhong Asset Management operates a comprehensive fund management platform consisting of core public fund products (including money market fund 余额宝/Yuebao, index funds, and various equity/bond/mixed funds), complemented by the Tianhong Innovation subsidiary offering private asset management and ABS products. Digital distribution channels include the official Tianhong Fund App, web-based online trading system, WeChat mini-program, and third-party platforms. Specialized services include cross-market ETF supplementary ticket inquiry and personal pension fund investment services. The platform also features community and social features (爱基金/孝基金) for investor engagement.

Differentiator

Problem solved

Functional benefit

Brands

• Tianhong Innovation (天弘创新): A wholly-owned subsidiary of Tianhong Fund Management, specializing in private asset management and asset-backed securities (ABS) products including consumer finance, automotive finance, and supply chain finance.

Products and services

• Yu'ebao (余额宝) Money Market Fund Money market fund product offering stable returns with flexible redemption features, serving as a mainstream wealth management option for individual investors. Integrated with the Alipay ecosystem for broad retail reach.
• Index Funds (指数基金) Index-tracking fund products providing market exposure and passive investment management for investors seeking benchmark returns.
• Public Mutual Funds (公募基金) Publicly offered fund products including equity, bond, and mixed-asset funds available for retail investor subscription, spanning over 190 fund products.
• Tianhong Fund App (天弘基金App) Official mobile application providing fund trading, account management, asset queries, pension services, and community features for retail investors. Includes face recognition login, fingerprint authentication, and third-party login via Alipay, WeChat, and Apple ID.
• Online Trading System (基金网上交易系统) Web-based direct trading platform for fund subscription, redemption, and account management with secure login and transaction capabilities.
• Tianhong Innovation Private Asset Management & ABS Products (天弘创新私募资管及ABS产品) Subsidiary platform offering asset securitization (ABS) products and private asset management plans, including single-client and collective schemes covering consumer finance, automotive finance, and supply chain finance for institutional and high-net-worth clients.

Quantifiable outcome

• Participated in industry-wide benchmark adjustments for 190+ fund products in April 2026

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Ant Group (蚂蚁集团)coreTechnology or IntegrationAnt Group's subsidiary Ant Blockchain Technology (Shanghai) Co., Ltd. provides anti-money laundering identity verification services for Tianhong Fund's account opening process, fulfilling regulatory requirements for customer due diligence.
• Alibaba Cloud (阿里云计算有限公司)coreTechnology or IntegrationAlibaba Cloud provides cloud infrastructure and OCR (optical character recognition) services for processing identity document images during the account opening process.
• SenseTime (北京市商汤科技开发有限公司)coreTechnology or IntegrationSenseTime provides face recognition and liveness detection technology for identity verification during account opening and authentication processes, ensuring secure customer onboarding.
• CMB (招商银行)coreChannel Partner/ Reseller/ DistributorChina Merchants Bank provides bank card binding and identity verification services for Tianhong Fund customers. The bank's systems are integrated for seamless account opening and authentication.
• DragonPass (广州龙腾出行网络科技有限公司)minorChannel Partner/ Reseller/ DistributorDragonPass provides airport lounge and travel service benefits for Tianhong Fund's VIP members, with points redemption integrated into the company's member benefits program.
• Banking Partners (CITIC Bank, Bank of Communications, Industrial Bank, ICBC, CCB, CMB)coreChannel Partner/ Reseller/ DistributorPartnership with major Chinese banks for payment processing, bank card binding, and distribution of Tianhong Fund products through banking applications and platforms.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• E Fund Management (易方达基金): One of China's largest public fund managers with broad product coverage across equity, fixed income, and money market funds; competes head-to-head with Tianhong in retail and institutional AUM.
• China Asset Management Corporation (华夏基金): Among the top three Chinese public fund managers with comprehensive product lineup and strong institutional relationships; directly comparable scale and regulatory positioning to Tianhong.
• Southern Asset Management (南方基金): Major state-affiliated Chinese public fund manager with diversified retail and institutional products; peer in the same top-12 cohort referenced in industry benchmark adjustments.
• Harvest Fund Management (嘉实基金): Top-tier Chinese public fund manager known for active equity and fixed income strategies; comparable in product breadth and customer segments to Tianhong.
• Bosera Asset Management (博时基金): Large Chinese public fund manager with full product suite including money market, bond, and equity; peer in industry-wide regulatory benchmark adjustments with Tianhong.
• GF Fund Management (广发基金): Major Chinese fund manager affiliated with GF Securities; comparable in scale, multi-channel distribution, and product diversification to Tianhong.
• China Merchants Fund (招商基金): Bank-affiliated (CMB) Chinese fund manager with strong institutional and retail channels; particularly comparable given Tianhong's deep CMB distribution partnership.
• China Universal Asset Management (中欧基金): Mid-to-large Chinese public fund manager with strong retail brand and active management focus; comparable in product positioning and customer targeting.

Others

• Ant Fortune / Yu'e Bao Platform (蚂蚁财富): Alipay's wealth management platform and primary distribution channel for Yu'ebao; comparable as a digital wealth distribution and investment platform rather than a direct fund management competitor.
• Tencent Licaitong (腾讯理财通): Tencent's wealth management distribution platform where Tianhong onboarded in May 2026; comparable as a major digital distribution channel for Chinese public funds rather than a fund manager.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tianhong-asset-management

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tianhong Asset Management