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Vanguard Group, the U.S. asset management giant, has sold its 49% stake in a robo-advisory joint venture with Ant Group, backed by Jack Ma. This move marks Vanguard's acceleration in exiting China's $4 trillion mutual fund market. The sale comes as Vanguard continues to divest its holdings in China. The decision to sell the stake was confirmed by multiple sources, including Bloomberg News and Reuters. Vanguard's exit from the joint venture reflects the challenges faced by foreign firms in China's financial market and the increasing regulatory scrutiny. The sale is a significant development in Vanguard's strategy to reallocate its investments and focus on other markets.
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Vanguard unloaded its 49% stake in a robo-advisory joint venture with Jack Ma-backed Ant Group, accelerating its exit from China’s $4 trillion mutual fund market. https://t.co/IAcj2YhbNW
Vanguard sells stake in joint venture with China's Ant https://t.co/LHjGgpSNyP https://t.co/a4efGHSiU7
🇨🇳 VANGUARD SELLS STAKE IN JOINT VENTURE WITH ANT - BLOOMBERG NEWS Full Story → https://t.co/e9un0WlLrx U.S. asset management giant Vanguard Group has sold its 49% stake in a joint venture with Jack Ma-backed Ant Group Co, Bloomberg News reported on Tuesday, citing people… https://t.co/IXQsTn3neW https://t.co/dUUxsXpFwI
Vanguard has sold its 49% stake in the robo-advisory joint venture with Jack Ma-backed Ant Group, accelerating its exit from China’s $4 trillion mutual fund market https://t.co/tK5HLzeLIh
Vanguard has sold its 49% stake in the robo-advisory joint venture with Jack Ma-backed Ant Group, accelerating its exit from China’s $4 trillion mutual fund market https://t.co/CNvJwXIJeY
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