US fund gaint Vanguard to close Shanghai office, exit JV with Ant

US fund gaint Vanguard to close Shanghai office, exit JV with Ant

The Vanguard Group headquarters. Photo: Bloomberg

US fund giant Vanguard Group is shutting its main Shanghai office and exiting from a joint venture with Ant Group, five sources with knowledge of the matter said, moves that will end its six-year presence in the world’s second-largest economy.