BEIJING: Vanguard Group amassed US$5.2 trillion of client assets and revolutionised the US investment industry by offering low-cost funds to millions of Americans. Now it wants to do something similar in China, even if the strategy takes years to bear fruit.
More than four decades after Vanguard founder Jack Bogle opened the first S&P 500 Index fund, the firm is laying the groundwork for a China expansion made easier by the nation’s opening to foreign asset managers.
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