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China Asset Management has achieved a significant milestone, with the scale of its non-monetary ETFs surpassing 1 trillion yuan for the first time.
As equity markets rebound and passive investment strategies gain wider acceptance, the ETF market, which recently exceeded 6 trillion yuan in total assets, has witnessed another landmark event.
Recent data indicates that China Asset Management's non-monetary ETF assets under management have exceeded 1 trillion yuan, breaking through this major threshold and establishing the firm as the first public fund manager in China to achieve this feat.
Industry experts suggest that supported by regulatory frameworks, market demand, and inherent product advantages, the ETF market is expected to maintain its robust growth trajectory. The pattern of leading products strengthening their dominance is becoming more pronounced, with products offering efficient tracking, lower fees, and superior liquidity poised to stand out.
According to Wind data, as of the net asset value update on January 12, China Asset Management's non-monetary ETF AUM reached 1,016.588 billion yuan, marking the first time it has crossed the 1 trillion yuan mark.
Meanwhile, E Fund Management's non-monetary ETF scale has rapidly grown to 923.2 billion yuan. Huatai-PineBridge Fund Management follows closely with assets nearing 650 billion yuan, securing a position among the top three.
The latest figures also show that Southern Asset Management's non-monetary ETF scale stands at 455.6 billion yuan. Both Harvest Fund and GF Fund Management have surpassed the 300 billion yuan mark. Guotai, Fullgoal, and Bosera Funds each manage over 200 billion yuan, while China Universal, HuaBao, and Penghua Fund Management have all entered the "100-billion-yuan club."
Public records show that since launching China's first ETF, the SSE 50 ETF, on December 30, 2004, China Asset Management has deeply committed to index investing and continuously refined its product offerings. By December 31, 2025, the firm managed 117 ETF products, comprehensively covering core broad-based indices, popular sectors and themes, commodities, domestic and international markets, and Smart Beta strategies, building a complete and forward-looking ETF ecosystem.
Scale is the most direct reflection of market recognition. Data reveals that China Asset Management's equity ETF average scale has ranked first in the industry for 21 consecutive years (2005-2025, calculated based on annual average daily scale). Fund semi-annual report data for 2025 shows that as of the end of June 2025, the number of clients holding China Asset Management ETFs had reached 3.74 million, also leading the industry.
Regarding management fees, 83 of China Asset Management's ETF products have the lowest fee tier among ETFs tracking the same indices (including 24 ETFs that are the sole trackers of their respective indices). Among these, 10 ETFs with the lowest management fee rate of 0.15% and assets exceeding 10 billion yuan each have a combined scale of over 670 billion yuan, consistently benefiting investors with lower costs.
The ETF market experienced significant development in 2025, successively breaking through the 4 trillion, 5 trillion, and 6 trillion yuan thresholds. Looking ahead to 2026, industry insiders anticipate the ETF market will maintain its strong growth momentum and enter a new phase of high-quality development.
A marketing department head from a mid-sized public fund company stated that regulatory policy support, investor demand for low-cost, high-transparency, and high-liquidity products, and the compelling value proposition of passive investing will continue to drive ETF market growth. Simultaneously, the scale advantages of leading fund managers will become more evident, potentially further solidifying the "strong get stronger" dynamic among ETF products.
"The future competition for ETF products will focus on tracking efficiency, fee levels, and niche market coverage. Products that offer efficient investment tools and good liquidity will stand out," the marketing head added.
Data shows that as of January 12, the total management scale of 1,378 non-monetary ETFs across the market was 6.11 trillion yuan. The average annual growth rate for this product category over the past decade has been nearly 40%, making it one of the fastest-growing segments in the public fund industry in recent years.
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