Trillions' Tianstones Fund Restarting: Taking Investor Protection Seriously?

How does AI · Tianhong Fund balance scale growth with investor service experience?

Investor protection is the foundation of public funds. Tianhong Fund always places compliance operations and investor education at a strategic level.

Produced by | Zhongfang Network

Reviewed by | Li Xiaoyan

The annual “3.15” International Consumer Rights Day is an important window to assess the compliance and service capabilities of financial institutions. As a leading public fund that has grown rapidly through internet channels and manages over a trillion yuan in assets, Tianhong Fund has served hundreds of millions of users through inclusive finance practices, making a distinct mark in the industry’s high-quality development process. At the same time, recent complaint data and internal management issues have attracted market attention, placing this industry benchmark company at a critical juncture of “scale and service upgrading simultaneously.” Objectively, Tianhong Fund’s long-term investments in inclusive finance, research strength, and investor education are well recognized. However, the phased shortcomings in service loops, customer experience, and organizational coordination should be viewed as opportunities for optimization amid rapid growth, rather than reasons to doubt its overall value.

Leveraging Yu’e Bao to open a new chapter in inclusive finance, Tianhong Fund has taken over a decade to evolve from an industry newcomer to a top-tier institution. By the end of 2025, the company’s public fund management scale will exceed 1.25 trillion yuan, remaining among the industry leaders, serving hundreds of millions of ordinary investors, and becoming a typical example of public funds serving the masses. Behind steady scale growth is Tianhong Fund’s commitment to the business philosophy of “steady and trustworthy wealth management,” continuously improving its research system, enriching product offerings, and expanding financial services to reach a broader audience. Its fixed income business has maintained steady performance over the long term, while the number of equity index fund holders and scale have both increased, with multiple products rated five stars by authoritative agencies, supporting investor trust with solid performance.

Investor protection is the core of public funds. Tianhong Fund consistently regards compliance and investor education as strategic priorities. The company has built an integrated online and offline investor education system, using brand activities like “Xiao Hong Flower Planting Plan” and “Know Together” to engage universities, communities, enterprises, and rural areas, promoting anti-fraud, financial literacy, and other initiatives to advance financial knowledge for all. The online investor education platform produces a series of content IPs covering short-term bonds, indices, retirement, and other segments, using simple language to lower financial literacy barriers. In 2025, the company actively responded to industry initiatives to reduce fees, lowering the comprehensive fee rates of multiple products, with some reaching the lowest market levels, to reduce investors’ holding costs and fulfill its inclusive mission. On the compliance and risk control front, the company has improved governance structures, strengthened end-to-end risk management, and ensured strict adherence to regulatory requirements in product operation, information disclosure, and customer service, safeguarding compliance.

Looking at industry complaint data, from March 15, 2025, to February 28, 2026, Tianhong Fund received 34 valid complaints, with a reply rate approaching 94%, maintaining high responsiveness among leading institutions. Complaints mainly involved operational issues related to internet channels, such as automatic transfers and account records, often due to users’ insufficient understanding of functional rules or prompts in the distribution chain, rather than violations of product operation or infringement of core investor rights. Objectively, given Tianhong Fund’s large service base and predominantly novice investors, higher demands for feature prompts, risk disclosures, and process transparency are understandable. The current complaints are partly a phase in the massive user base and complex channel ecosystem. The industry generally faces challenges with low complaint resolution rates and insufficient closed-loop efficiency; Tianhong’s service shortcomings are not unique but part of a common industry growth process.

Recent internal management and personnel changes, which have attracted market attention, should also be viewed rationally within the broader industry development context. The departure of core research personnel due to personal career planning and mental health adjustments is normal talent mobility; some labor disputes still under arbitration should be interpreted based on legal conclusions, not over-interpreted. For a trillion-yuan institution in a critical transformation phase, organizational optimization, management iteration, and cultural upgrading are ongoing topics. Short-term fluctuations do not indicate long-term governance failure. From another perspective, external supervision and internal reflection together provide opportunities for the company to improve management and efficiency.

As scale reaches trillions, service quality must be the foundation of trust. The key challenge for Tianhong Fund is how to transform scale advantages into service advantages and traffic advantages into experience advantages. To address issues like improving complaint resolution rates and refining internet user services, the company can continue upgrading in three areas: first, optimize account management and feature prompts to make disclosures on automatic transfers and risk notices more prominent and understandable, reducing misunderstandings from the source; second, upgrade customer service response and handling mechanisms to promote closed-loop, standardized complaint resolution, improving problem-solving rates and user satisfaction; third, deepen investor tiered engagement, strengthening rule explanations, operational guidance, and long-term investment philosophy communication for novice investors, making services warmer and more targeted.

At this new starting point of high-quality industry development, public funds are shifting from scale expansion to value creation, from product sales to customer companionship. As a trillion-level leading institution, Tianhong Fund has the responsibility to lead industry service standards and the resources and capacity to improve its investor service system. Over the past decade, Tianhong has broken down investment barriers through inclusive finance, allowing ordinary people to share the benefits of capital market growth. In the future, with investor protection as the core and service quality as the focus, it is expected to achieve “growth and reputation in tandem, development and compliance in sync.”

Trust begins with professionalism and endures through companionship. On its new journey of managing trillions, Tianhong Fund must uphold its original intention of serving hundreds of millions of users with inclusive finance, while also addressing service experience shortcomings through more transparent processes, more efficient responses, and warmer engagement, building an investor protection system worthy of its leading position. For the market, patience and space should be given for top institutions to optimize and upgrade; for Tianhong, acknowledging issues, acting swiftly to rectify, and maintaining long-term commitment are essential to safeguarding investor trust and advancing steadily on the path of high-quality development.

Personal opinions for reference only.