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Vanguard to close most of its institutional business in Australia; focus on retail

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Vanguard Group Inc said on Wednesday it will close most of its business managing money for institutional investors and large pension funds in ...

SYDNEY: Vanguard Group said on Wednesday it will close most of its business managing money for institutional investors and large pension funds in Australia and New Zealand, and focus on serving retail clients.

The Pennsylvania-headquartered manager will continue to offer some investment products that are"pooled" rather than customised, a spokeswoman said in an email.

 

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