The changes will impact 70 positions in Hong Kong and Japan, according to an emailed statement. Past performance is not indicative of future performance. All rights reserved. Some staff in Hong Kong will be made redundant while others stay for a period of time as the business is closed down. Investors should refer to the fund prospectus for further details, including the product features and risk factors. Vanguard S&P 500 Index ETF seeks to track the performance of the index, a widely recognised benchmark of U.S. stock market performance that is comprised of … The world’s second-largest money manager said it sees a “considerable opportunity” in China, where it has teamed up with billionaire Jack Ma’s Ant Group to develop a robo-adviser service for the fintech giant’s more than 1 billion digital customers. Foreign asset managers are rushing in as China opens up its financial services market, where retail funds under management are predicted to grow to $3.4 trillion by 2023. The company will also exit Hong-Kong’s Mandatory Provident Fund and Index-Tracking Collective Investment Scheme platforms. This web page is published by Vanguard Investments Hong Kong Limited and this web page has not been reviewed by the Securities and Futures Commission in Hong Kong. “The Hong Kong stock market will remain as a critical component for Vanguard’s global diversified funds,” the company said. In Japan, Vanguard said it will no longer actively market products or distribute new ones. There is no intention to offer or sell products in countries or jurisdictions where such offer or sale would be unlawful under the relevant domestic law. All else being equal, lower-cost investments provide greater net returns than higher-cost investments. The restructuring has been in the works from before the coronavirus pandemic, they said. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. Scott Conking, a 36-year company veteran who was appointed to lead the Asia business in March, will work between Hong Kong and Shanghai as the latter city becomes Vanguard’s primary office in the region. Enter a valid Vanguard fund name or ticker, investments/mutualfunds/detailoverview?portId=pppp&assetCode=cccc, FTSE Asia ex Japan High Dividend Yield Index ETF. The company will also exit Hong-Kong… There is no intention to offer or sell products in countries or jurisdictions where such offer or sale would be unlawful under the relevant domestic law. The firm’s ETF assets in Hong Kong are about HK$3.3 billion ($430 million), according to data compiled by Bloomberg News. — With assistance by Lulu Yilun Chen, Dingmin Zhang, Haze Fan, David Scanlan, Gregor Stuart Hunter, and Jun Luo, U.S. firm seeks to target fast-growing regions in Asia, Company has launched China joint venture with Ant Group. That’s a first step in winning a slice of the nation’s fast-growing asset management business. This web page is published by Vanguard Investments Hong Kong Limited and this web page has not been reviewed by the Securities and Futures Commission in Hong Kong. Vanguard Group Inc. said it plans to end its onshore presence in Hong Kong and Japan to focus on individual investors in faster-growing parts of Asia, resulting in an undisclosed number of job losses. All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Vanguard runs at least six ETFs on the Hong Kong exchange including funds tracking China, Japan, Asia ex-Japan and developed Europe. All rights reserved. Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). The Malvern, Pennsylvania-based money manager said the move doesn’t suggest the company isn’t bullish on Hong Kong. “Unfortunately, from a distribution business standpoint, the current industry dynamics are better suited to institutional investors and do not currently support the scale needed for us to operate” the firm’s low-cost model, the company said of its Hong Kong operations. Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). Have a confidential tip for our reporters? Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). Investment involves risks. Before it's here, it's on the Bloomberg Terminal. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. Past performance is not indicative of future performance. Better still, each Vanguard ETF has the lowest Ongoing charges (per annum) in its category on the HKEx, 1 enabling investors to earn more over time. Vanguard ETFs make ideal building blocks for a well-diversified portfolio, giving you broad access to the world's total equity market capitalisation. The U.S. fund giant, with about $6 trillion in assets, said its Hong Kong business is targeted at institutional clients, and not the retail investors that are the firm’s primary focus. Your use of this site signifies that you accept our Terms and conditions of use | Privacy policy Vanguard Investments Hong Kong Limited. A number of roles will be moved to Shanghai with Vanguard prioritizing China in its Asia plans, according to people familiar with the matter, who asked not to be identified as the discussions are private. Investors should refer to the fund prospectus for further details, including the product features and risk factors. Vanguard services more than 30 million investors globally. Investment involves risks. Vanguard runs at least six ETFs on the Hong Kong exchange including funds tracking China, Japan, Asia ex-Japan and developed Europe. Updates with Hong Kong assets in fifth paragraph. Restaurant Curfew: Virus Update, Pfizer Vaccine’s Funding Came From Berlin, Not Washington, Target Is Reopening Its Looted Store With Black Shoppers in Mind. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. Covid Superspreader Risk Is Linked to Restaurants, Gyms, Hotels, Deep-Freeze Hurdle Makes Pfizer’s Vaccine One for the Rich, California Infections Rise; N.Y. Your use of this site signifies that you accept our Terms and conditions of use | Privacy policy Vanguard Investments Hong Kong Limited.