(Bloomberg) — 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.The assets include about $10 billion that Vanguard had managed for each of China’s State Administration of Foreign Exchange and the China Investment Corp. sovereign wealth fund, the people said, declining to be identified as the matter is private. More than $1 billion was returned …read more
Source:: Yahoo Finance
