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 Chief Product Officer of LendIt Fintech.

He 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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