Vanguard Returns $21 Billion in Assets to China State Funds
- BlackRock, Amundi may manage a portion of the returned funds
- Move is part of strategy shift to focus on individual clients
Source: Vanguard
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Vanguard Group Inc. returned about $21 billion in managed assets to government clients in China as part of a global shift to focus on low-cost funds for individual investors, according to people familiar with the matter. BlackRock Inc. and Amundi SA are being considered to manage a portion of the funds returned by Vanguard.