Tianhong Asset Management Co., Ltd. is a Chinese asset management company founded in 2004. From 2014 it was considered the largest asset management company in China until 2021.[1][2] Its most notable product is the Tianhong Yu'e Bao fund which at one point was the world's largest money market fund.[3]
History
Tianhong Asset Management was set up on 8 November 2004.[4]
In October 2013, the Alibaba Group acquired a 51% stake in the company for 1.18 billion RMB from its original shareholders, Tianjin Trust, Inner Mongolia Junzheng Energy & Chemical Group and Wuhu High-tech Investment.[5]