Chinese fintech company Ant Financial Services [ANTFIN.UL] and U.S. asset manage...
FILE PHOTO: The logo of Ant Financial Services Group, Alibaba's financial affiliate, is pictured at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu Zhang
SHANGHAI - Chinese fintech company Ant Financial Services [ANTFIN.UL] and U.S. asset management firm The Vanguard Group have established a joint venture to provide retail investment advisory services in China, the companies said in a statement on Saturday. The announcement, which comes more than six months after the joint venture appeared in an online national registry, said the company would provide customized services for investors based on individual risk preferences, time horizons and investment objectives.
The service will accept minimum investments of 800 yuan and will be accessible through Ant Financial’s Alipay app, the statement said. Vanguard, which has more than $5 trillion in assets under management, launched a wholly foreign-owned enterprise in China in May 2017.
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