Tianhong, controlled by Jack Ma’s Ant Financial, seeks diversification outside China – Reuters

What happened: Ant Financial-controlled Tianhong Asset Management is ramping up expansion efforts for its cross-border business as regulatory curbs at home hampers the growth of its money market fund Yu’e Bao.

“Compared with other industry players, our international business started late. But we’re catching up,” said Liu Dong, head of Tianhong’s international business. The asset management firm launched its first mutual fund targeting Hong Kong stocks earlier this month and is scheduled to roll out another mutual fund product that allows entities in China to invest in overseas markets this year.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.