Asset Management

Fund powerhouse Vanguard to halt its Hong Kong operations

Vanguard said it will 'wind down' its Hong Kong operations and exit its exchange-traded funds in the region, with around six such products listed on the Hong Kong Stock Exchange

Fund powerhouse Vanguard to halt its Hong Kong operations
Photo: Getty Images

Vanguard, the world's second largest fund manager, is ending its presence in Hong Kong, a move that's likely to result in an unspecified number of job cuts.

The US fund manager, which has around $6.3tn in assets under management, said that it will close its onshore presence in the countries which primarily focus on institutional business rather than its core retail clients.

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