CHINA BRIEF | Ant Financial and Vanguard launch robo-advisor on Alipay

Written by Song Jingli Published on 

Ant Financial already offers over 4,000 wealth management products.

On Tuesday, Ant Financial launched an investment advisory service called Bangnitou on its third-payment platform Alipay in partnership with US-based asset manager Vanguard, targeting individual investors in China with an entry barrier of RMB 800 (USD 113).

Bangnitou’s artificial intelligence system can allocate one’s cash into equity funds, bond funds, and money market funds proportionate to one’s risk preference and, in return, charges a fee of 0.0014% of total assets under management per day.

The service comes three months after Ant Financial and Vanguard set up a partnership in December 2019.

Before adding Vanguard to Alipay, Ant Financial said in June last year that they already have over 80% of China-based asset management companies on their platform, offering over 4,000 wealth management products, KrASIA reported.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.


You might like these

  • News

    Israeli startup Ride Vision raises USD 7 million to save riders’ lives with collision-aversion tech



    18 Nov 2020    11:35 AM

KrASIA InsightsKrASIA Insights

  • The Singapore-based company is expanding into Indonesia and Thailand.


    How LingoAce makes learning Chinese fun and effective for children: Startup Stories

    By Ursula Florene

    21 Nov 202001:05 AM

Most PopularMost Popular

See All