China Asset Management (Hong Kong) secures additional RQFII quota
16 July 2013
News, Asia, China, Hong Kong
By Asia Asset Management
China Asset Management (Hong Kong) – a subsidiary of the Mainland’s largest fund manager, China Asset Management Co (China AMC) – announced on Tuesday (July 16) that its ChinaAMC Select Fund had been awarded an additional 800 million RMB (US$127 million) in RQFII quota from the State Administration of Foreign Exchange (Safe) on July 3. This takes the fund’s total quota up to 2.8 billion RMB.
The ChinaAMC Select Fund, launched in February 2012, was China Asset Management (Hong Kong)’s first RQFII product; it primarily invests in China’s domestic equity and fixed income markets.
The fund, together with the firm’s second RQFII product, the ChinaAMC CSI 300 Index ETF, has drawn down a total of 18.8 billion RMB worth of RQFII quota.
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