Alibaba Group Holding shattered records with its $25 billion initial public offering, a blowout success on the New York Stock Exchange last month. The e-commerce giant has made arguably bigger waves at home, in China's asset management industry. After Introducing a new money market fund on its electronic platform last year, Alibaba pulled in tens of billions of dollars in a matter of months, making the fund-Yu'e Bao - China's Idrgest and transforming its manager, Tianhong Asset Management Co., from an also-ran into the country's leader, The China 20, our annual ranking of the country's largest fund managers, which begins on this page, shows how online finance is generating phenomenal growth in the industry and shaking up the established order.
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