Vanguard has had operations in different parts of the world for some time, but for the moment, China and India are not among those parts. Here's how newly named Vanguard president William McNabb answered a question about which parts of the world he sees long-term opportunities.
"It's a big world. Almost every area of the world offers opportunities. I think the key thing for us is figuring out where our value proposition marries up with the state that the market is in. We've had a presence in Europe for a decade, and that continues to grow and evolve. We've had a presence in the Middle East and that continues to grow and evolve. The Pacific Rim, we began our business in Australia and [it] has been an important part of our growth and a launching off to different points in Asia. Everybody talks about China and India, but I'm not sure if, and when, we'll be there. I think [our priorities] right now [are] building out our Australian capabilities and our European capabilities, doing more in the Middle East, and selectively in parts of Asia."