Vanguard Plots Entry to Taiwan, South Korea
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Friday, October 06, 2006

Vanguard Plots Entry to Taiwan, South Korea

Vanguard may have been late to the party in Europe, but don't expect the Valley Forge, Pennsylvania-headquartered fund giant to be a latecomer in newer emerging markets in Asia.

Within a year, the firm hopes to have put up ventures in Taiwan and South Korea, Reuters reported. Vanguard is currently on the prowl for a partner in Taiwan and is undergoing the licensing process in South Korea.

"We were very late getting into the international business in general," James Gately, head of Vanguard's international business, told Reuters. "So when we go to countries like U.K., Germany or France, we are newcomers on the block. It's very hard to break in."

"So we figured that with some of the newer emerging countries, if we can get in earlier, then as they grow we will be a little bit better positioned to enjoy the growth over the years," he added.

Vanguard also intends to grow its presence in Japan. What about China and India? The firm does not plan to focus on those two markets, Gately said.

"We only have limited people. And so we are trying to do the things that we think we can do a little more of soon and get established," he said.

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