Vanguard and Ant Financial have formed an intriguing partnership that allies two of the world’s most powerful financial players in a bold initiative to tackle the fastest growing investment market.
International asset managers are racing to strengthen their operations in mainland China, where the pool of assets is forecast to increase from $5.3tn to $9.3tn as early as 2023, according to Morgan Stanley and Oliver Wyman, the consultancy.
This growth offers the tantalising prospect of a lucrative stream of profits for those international managers that can negotiate the complex mix of regulatory, operational and cultural challenges posed by doing business in China.
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