Ant Group is worth paying attention to for another reason: China leads the world in digital payments and Ant Group is the goliath. Alipay was spun out of Alibaba in 2011 and has since acted as an independent mobile payment system. A holding company, Ant Group, was formed three years later to act as the parent for Alipay. Other financial services such as insurance, online banking and wealth management were added under the Ant Group umbrella. “KWEB’s index methodology has a fast-track IPO inclusion, which allows the fund to buy Ant Group after its tenth trading day.”ETFs work similar to mutual funds.

Source: Forbes October 15, 2020 22:07 UTC