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Julius Baer acquires stake in Chinese wealth manager

In a bid to tap into China’s domestic wealth management industry, Julius Baer is buying a 5% stake in Jupai Holdings Ltd, a Shanghai-based wealth manager. The Swiss pure play has agreed to acquire nearly 9.6 million ordinary shares – about 5% of the company’s total outstanding share capital – at US$1.83 per share. Chinese online media company SINA is also part of…

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