Industry News, Trustworthy Insights

Popular Companies:

Vanguard Exclusive: Why the Move Away from China and Ant Group?

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.

Vanguard Group bids farewell to China’s mutual fund market as Ant Group offices stand as a reminder of their joint venture. PHOTO: Qilai Shen/Bloomberg

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

Industry news used by professionals

Try £4.99 per month

Already a member?
Weekly Digest

All the week’s industry events straight to your inbox.

Before your sign up, please read terms of use and privacy policy.

Trending

FREE Weekly Newsletter

Trusted industry insights used by Professionals

By signing up you agree to our terms of use and privacy policy.

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Password Reset

You will soon receive a Reset Password link

FREE Weekly Newsletter

Trusted industry insights used by Professionals

By signing up you agree to terms of use and privacy policy.

Send us your article

[formidable id=3]