Ant Financial and Vanguard Launch Advisory Joint Venture
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Ant Financial and Vanguard establish a joint venture to provide advisory services to China’s onshore retail market.
U.S. asset manager Vanguard would provide customized solutions to investors based on their risk profile, time horizon, and investment objectives, according to a report citing a statement, with a minimum investment of 800 yuan ($115) to access the service through Ant Financial’s Alipay app.
The tie-up marks the second partnership Ant Financial has established in the last month. In late November, it signed a partnership with Postal Savings Bank of China to focus on areas such as digital payments, online lending, rural finance, and corporate finance alongside the establishment of a joint lab to explore other innovations.
Vanguard, which launched a wholly foreign-owned enterprise in China in May 2017, recently bolstered its onshore capabilities with the hire of Yan Pu as its managing director and China head of investment management group.
Questions & Answers
Q.What is the primary purpose of the joint venture between Ant Financial and Vanguard?
What is the primary purpose of the joint venture between Ant Financial and Vanguard?
The joint venture aims to offer advisory services to the onshore retail market in China. Vanguard will provide tailored investment solutions to investors, considering their risk profile, time horizon, and objectives.
Q.How can retail investors access the new advisory service, and what is the minimum investment required?
How can retail investors access the new advisory service, and what is the minimum investment required?
Retail investors can access the advisory service through Ant Financial's Alipay app. A minimum investment of 800 yuan, equivalent to $115, is required to use the service.
Q.What other recent partnership has Ant Financial formed, and what are its focus areas?
What other recent partnership has Ant Financial formed, and what are its focus areas?
Ant Financial recently partnered with Postal Savings Bank of China in late November. This collaboration focuses on digital payments, online lending, rural finance, and corporate finance, alongside a joint innovation lab.
Q.Has Vanguard made any recent moves to strengthen its presence in China?
Has Vanguard made any recent moves to strengthen its presence in China?
Yes, Vanguard recently bolstered its onshore capabilities by hiring Yan Pu as its managing director and China head of the investment management group. It also launched a wholly foreign-owned enterprise in China in May 2017.
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