Vanguard to Exit China Funds on JV Joint Venture With Ant Group, Stay Sources

Vanguard to exit China funds on JV joint venture with Ant close Shanghai office sources. Vanguard is a $7.1 trillion asset management company has a 49% stake in the Ant controlled joint venture. The plan to exit by Vanguard contrast with expansions in China by US rival BlackRock and Fidelity in recent years.