Vanguard tipped to skip private fund route into China

So far 12 foreign asset managers, including some of the world's biggest, have moved to set up a wholly-owned business in China, but not all of them are seeking a private fund company licence.  Index fund giant Vanguard, for instance – the second largest investment house worldwide, with $4 trillion under management – is not believed to have done so, despite the fact that it received a licence for an onshore wholly foreign-owned entity (WFOE) late last year. This is probably becau…