Safe hands out US$1.35 billion in new QFII quotas in August
02 September 2013
News, China, Global
By Asia Asset Management
The State Administration of Foreign Exchange (Safe) announced on Friday (August 30) that it dished out a fresh batch of US$1.35 billion QFII quotas in August, taking the total approved qualified foreign institutional investor (QFII) quota to $46.4 billion as of August 31.
Among the newly granted QFII quotas, new QFII participants Hall Capital Partners and Greenwoods Asset Management Hong Kong each received $100 million quotas, while another newcomer, University of Notre Dame du Lac, was awarded $50 million.
Among existing QFII institutions, Safe granted US$150 million quotas to China Life Insurance Co (Taiwan), PineBridge Investment, and Martin Currie Investment Management. Meanwhile, Hong Kong Monetary Authority (HKMA), Taiwan Life Insurance Co, and Eastspring Investment (Hong Kong) were awarded US$500 million, US$100 million, and US$50 million, respectively.
Meanwhile, Safe slashed US$10 million off Korea Development Bank’s quota as it had remained unused within the specified time limit.
Safe also handed out 5.9 billion RMB (US$936 million) in RMB-denominated qualified foreign institutional investor (RQFII) quotas in August. New RQFII licenses holders Cinda International Asset Management, Taiping Assets Management (HK), and BOCHK Asset Management each received 800 million RMB quotas. Industrial Securities (HK) Financial Holdings and Ping An of China Asset Management (Hong Kong) were granted 500 million RMB and 1 billion RMB quotas, respectively.
In addition, existing player CSOP Asset Management was awarded an additional RQFII quota of 2 billion RMB.
Up to the end of August, Safe had granted a total of 127.8 billion RMB to 39 financial institutions.
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