Chinese fund houses take robo advice to next stage

China’s major fund houses are gearing up to compete more aggressively with the country’s purely digital players. Fund groups that AsianInvestor spoke to say that they plan to expand their robo-advisory services as part of new powers given to them to expand their investment advisory businesses on the mainland. On October 25, the China Securities Regulatory Commission (CSRC) granted investment advisory licences to five local asset managers. Essentially, the new licences allow firms …