Alibaba, which runs the world's largest money market fund, has transformed asset management in China. Its affiliate Ant Financial has its sights on repeating this success through a joint venture with US-based Vanguard Group. The Shanghai subsidiary of the world's largest mutual fund group will hold a 49 percent stake in the partnership, with Ant taking the rest. Through Alibaba's mobile payment service Alipay, Ant has access to 700m active users in China that keep $168bn in Ant's funds. Vanguard will have arrived at the right time. (Alibaba/Vanguard: Ant seen nuthin' yet, Financial Times)
Comment：
Ant Financial has been launching branded products such as Alipay to meet users' needs with innovative spirits as an Internet financial services company. The building of the brand not just helps it lure numerous customers, but opening up new opportunities for its development.
（Editor: Li Xingyi Intern: Shao Jingjing）
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