China’s Safe dishes out US$1.5 billion in QFII quotas in July
02 August 2013
News, Asia, Global
By Asia Asset Management
China Everbright Assets Management, China International Capital Corp Hong Kong Asset Management, and Bosera Asset Management (International) have become the latest QFII participants to be awarded QFII quotas from China’s State Administration of Foreign Exchange (Safe).
In July, each of the financial entities received a $100 million QFII quota from Safe. Safe also granted additional $150 million quotas to BNP Paribas and Cathy Securities Investment Trust Corp.
Meanwhile, Bank Negara Malaysia renewed a $600 million quota. Ontario Teachers’ Pension Plan Board and Princeton University were awarded additional quotas of $200 million and $100 million quota, respectively.
Safe took back $10 million from the initial $100 million QFII quota granted to the Trustees of Columbia University in the City of New York as the institution failed to fully draw down the quota within the specified time limit.
Up to the end of July, Safe has granted a total of $44.9 billion in QFII quotas to 210 financial institutions.
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