Safe dishes out US$900 million in QFII quotas in June
28 June 2013
News, China, Global
By Hui Ching-hoo
China’s State Administration of Foreign Exchange (Safe) granted a fresh batch of US$900 million QFII quotas to nine foreign institutions in June.
Safe said on its website on Wednesday (June 26) that new QFII participants UBS Global Asset Management, HSBC Global Asset management (Taiwan), and ICBC (Asia) Investment Management each received $100 million in QFII quotas, while Sweden’s pension Andra AP-fonden was awarded US$200 million.
Korea Investment Corporation renewed a $200 million quota and Legg Mason Investments (Europe) received additional $100 million quota.
Meanwhile, Safe also issued 9.7 billion RMB ($1.53 billion) RQFII quota to 11 affiliates of Mainland financial institutions; including CSOP, China AMC, E Fund, Harvest, Da Cheng, Haitong, China Life Franklin Asset Management, Guosen Securities, Shenyin Wanguo, China International Capital Corporation (CICC), and Lion Fund.
Up to the end of June, Safe has granted a total of 104.9 billion RMB RQFII quotas to 30 Mainland financial entities.
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