Safe approves US$750 million worth of QFII quotas in February
06 March 2014
Category: News, Asia, China, Global
By Hui Ching-hoo
China’s State Administration of Foreign Exchange (Safe) dispensed US$750 million worth of fresh QFII quotas among seven foreign entities in February, which took the total amount in quotas granted to $52.3 billion and the number of institutions awarded to 237, as of February 28.
New QFII participants Bank of Lithuania and CTBC Bank Co were awarded $100 million and $50 million, respectively. Safe also granted an additional $100 million quota each to Fidelity Investments Management (Hong Kong), Samsung Investment Trust Management Co, and Goldman Sachs Asset Management. Fubon Securities Investment Trust Co renewed its quota of $200 million.
As for the RQFII scheme, newcomers Ashmore Investment Management and China Galaxy International Financial Holdings were awarded quotas of 3 billion RMB (US$476 million) and 800 million RMB, respectively.
Existing players CSOP Asset Management, Haitong International, and Guoyan Securities (HK) each received a quota of 1 billion RMB from Safe while E Fund Management and Da Cheng International Asset Management were granted quotas of 2 billion RMB and 800 million RMB, respectively.