Ant-Vanguard deal shows potential of China digital sales

While no foreign fund management group can claim to have found the most successful formula for fund distribution in China, the growth of sales through online platforms is changing the nature of fund product buying in the country. This could accelerate further, if the full potential of a newly announced joint venture announced June 10 between Alibaba's Ant Financial and US group Vanguard can be realised. The tie-up between the two financial giants makes sense, given the rapid ons…