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Ant Financial, Vanguard form investment advisory JV in China

|About: Alibaba Group Holding Limited (BABA)|By: , SA News Editor

Alibaba (BABA +0.4%) affiliate Ant Financial and Vanguard, the $5.9T U.S.-based asset manager, form a joint venture to bring a streamlined and broadly available investment advisory service to retail consumers in China.

The two companies' joint venture will provide a fund investment advisory service, as approved by the China Securities Regulatory Commission, to Chinese individual investors.

Ant Financial, operator of the popular Chinese payment platform Alipay, focuses on using technology to bring inclusive financial services to the world, and Vanguard has significant experience serving investors and investment management expertise.