Ant Financial Strikes Joint Venture with Vanguard

Ant Financial owns the world’s largest money market fund and has just struck a joint venture with the Shanghai subsidiary of Vanguard; Vanguard will own 49 percent of the new venture with Ant Financial controlling the rest; the move comes at a time when Chinese regulators have opened up the market to allow foreign-owned asset managers to own up to 51 percent of Chinese joint ventures, JPMorgan has also made a move into the market; monetary easing has brought down yields and investors are seeking higher returns for riskier assets; Vanguard will help to offer a product to investors through passive portfolios or ETFs, the firm has also been improving its robo advisor. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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