TMTPOST — E Fund Management Co. Ltd. has overtaken China Asset Management Co. to become the largest mutual fund manager of domestic exchange-traded funds by assets under management, according to Wind financial data on Wednesday. The asset manager’s non-money market ETF scale reached 616.75 billion yuan ($85 billion), surpassing China Asset Management’s portfolio of 616.50 billion yuan ($84.97 billion) by a narrow margin of 244 million yuan ($33.6 million). This strategic realignment caps a multi-quarter capital influx into low-cost index tracking funds across the Chinese mainland asset management sector. Concurrently, E Fund's aggregate exchange-traded fund assets rose to 618.52 billion yuan ($85.25 billion), also surpassing China Asset Management’s total ETF scale of 616.61 billion yuan ($84.99 billion) to secure the top spot industry-wide. Analysts note that intensified competition among top-tier funds continues to compress fee structures within the domestic passive investment landscape.