Wall Street Journal with the report on Vanguard bailing out on its plans to to sell its funds to Chinese consumers.
- The firm had been planning to seek Beijing's approval for the business.
- Vanguard has now decided that building a meaningful presence in China's fund industry would take longer than they expected, people familiar with the matter said.
Link to the Journal here for further info (may be gated)
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Vanguard has around US$6.2 tln in assets under management globally.
