BEIJING, China (Reuters) – Vanguard, the world’s biggest mutual fund, launched its first wholly-owned subsidiary on the Chinese mainland last week. The group’s chairman and chief executive officer William McNabb III said the move was aimed at a greater penetration of the Chinese market. Headquartered in Shanghai, the subsidiary will conduct business ranging from investment management, research to consultation in China. McNabb said they tend to achieve two things with the new company. One is […]