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Mutual Fund US Market

Vanguard gave up on mutual funds in China, but it may have found a different way into the market

Sumary of Vanguard gave up on mutual funds in China, but it may have found a different way into the market:

  • A smartphone-based investment advisory product run through the American mutual fund giant’s joint venture with Alibaba-affiliate Ant Group…
  • That’s according to a release from BangNiTou on Thursday, just four days after Vanguard said it would drop its own pursuit of a mutual fund license in China…
  • While such automated investing products have surged in popularity in the U.S., the concept of personal finance — whether through human or automated advisors — is still far less common in China…
  • Most locals save heavily for an investment in the housing market or for medical treatment in the case of severe illness…
  • That’s partly the result of limited rollout of health insurance, stock market volatility and high minimums for fund investment…
  • For BangNiTou, the minimum investment is 800 yuan ($123), roughly 10% of the officially reported average monthly wage in cities….

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