Vanguard Group Inc. has completed its exit from China’s mutual fund market by divesting its 49% stake in a joint robo-advisory venture with Ant Group Co., backed by Jack Ma.
The sale, whose financial terms were not disclosed, involves Vanguard selling its minority stake to Ant while providing transitional support for clients until the year-end.
Earlier this year, the US asset management giant made the strategic decision to close its operations in China and withdraw from the advisory venture, taking a step closer to a full
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