Ant Group Ordered to Remove New Fund Investment Advisory Service

What’s new: Alibaba-backed Ant Group Co. Ltd. has been ordered to remove a new fund investment advisory service from its Alipay app merely a week after it launched, internal sources at Ant Group told Caixin on Thursday.

Launched on Jan. 4, the service known as “golden selection investment advisor” (金选投顾) offered a list of fund portfolios that were recommended by Ant Group and its six financial institution partners.