Not directly, but you can simulate it using expressions.
Create one mesh object and name it 'parent'. Create locator and name it 'child'. Go to Display->Custom Polygon Display Options and turn on Show Item Numbers->Verices. Now all vertices in your mesh should display their numbers.
Select child and go Window->Animation Editors->Expression Editor. Type the following into 'Expression' box and click 'Create':
$offsetx = 1;
$offsety = 1;
$offsetz = 1;
child.translateX = parentShape.pnts[2].pntx + $offsetx;
child.translateY = parentShape.pnts[2].pnty + $offsety;
child.translateZ = parentShape.pnts[2].pntz + $offsetz;
The child object will follow vertex no.2 and will be offseted by <>. Change the number in angular brackets to desired vertex index and change 'offset' variables to specify the distance of a child object from parent vertex