Vanguard gave up on mutual funds in China, but working with Ant


A logo of Ant Group is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020.

Aly Song | Reuters

BEIJING — Vanguard’s experiment with financial technology in China is showing early signs of success.

In less than a year, more than 1 million users have signed up for “BangNiTou,” a smartphone-based investment advisory product run through the American mutual fund giant’s joint venture with Alibaba-affiliate Ant Group.

That’s according to a release from BangNiTou on Thursday, just four days after Vanguard said it would drop its own pursuit of a mutual fund license in China. Instead, the company plans to focus on its…


More than 2,000 organizations urge Biden to extend eviction ban

Previous article

Indonesia will restart AstraZeneca vaccines when regulators give the go ahead, health minister says

Next article

You may also like

Leave a Reply

Notify of

More in Finance