Vanguard looking to European ETF launch

The company opened its Vanguard Investments UK business in 2009, registering with the FSA in April of that year and unveiling its initial line-up of index funds the following month. Vanguard UK managing director Tom Rampulla had indicated the move into ETFs would take place in 2010, but the firm has yet to launch. Part of this delay may be due to the complications inherent in moving from the US to Europe. As Rampulla points out: "The European market is much more fragmented. "What is more, ETFs do not carry the same tax advantages in Europe as they do in the US; open-end funds can a...