AGNG

Investors who fear they missed out on this year’s stock-surge in U.S. sports betting companies should look at their more undervalued peers across the pond.

Vanguard Group Inc. returned about $21 billion in managed assets to government clients in China as part of a global shift to focus on low-cost funds for individual investors, according to people familiar with the matter. BlackRock Inc. and Amundi SA are being considered to manage a portion of the funds returned by Vanguard.

With pre-orders for Sony Corp.’s Playstation 5 and Microsoft Corp.’s Xbox X Series sold out almost everywhere before their November release, video-game ETFs are ripe for a boom.