The State Administration of Foreign Exchange (SAFE) announced on Saturday that it has dished out a total of US$1.2 billion qualified foreign institutional investor (QFII) quotas to six foreign institutions in July.
Of these, the SAFE granted $100 million each to new QFII license holders Van Eck Associates Corp and William Blair & Company.
Meanwhile, the Hong Kong Monetary Authority, which received its first QFII quota in March 2011, was granted an additional quota of $700 million. Other existing QFII participants Templeton Investment Counsel, Korea Investment Trust Management, and Manulife Asset Management (Hong Kong) were awarded additional quotas of $100 million each.
As of July 17, there are 149 QFII institutions with total quota of $28.53 billion.
