China’s SAFE announces QFII quota recipients
15 January 2013
News, China, Global
By Hui Ching-hoo
China’s State Administration of Foreign Exchange (SAFE) has announced that it dished out a fresh batch of QFII quotas totalling US$1.4 billion among eight foreign institutions in December.
The US-based Church Pension Fund and Duke University received a $50 million quota each, while BOC Group Life Assurance and Value Partners were awarded quotas of $200 million and $100 million, respectively.
Morgan Stanley and Deutsche Bank were granted $200 million in additional quotas each, on top of their existing $400 million capacity. Meanwhile, Canada Pension Investment Board (CPPIB) and KB Asset Management were awarded quotas of $500 million and $100 million, respectively.
Up to the end of December, SAFE has granted a total of $37.4 billion QFII quotas to 169 financial institutions.
Separately, SAFE handed out three 800 million RMB (US$126.9 million) RQFII quotas, one to ICBC Credit Suisse, one to GF Fund Management, and one to China International Fund Management. The regulator also granted 5.8 billion RMB in additional RQFII quotas to both China AMC and E Fund, and awarded an additional 5 billion RMB quota to CSOP.
SAFE dished out total RQFII quotas of 67 billion RMB to 24 RQFII participants up to the end of 2012.
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