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Three firms granted new RQFII, QFII quotas in December

UBS SDIC, Eugene Investment and Allianz are among the firms that were granted investment quotas in December.

In total, China’s State Administration of Foreign Exchange awarded around RMB 528.5bn ($76bn) in RQFII quotas to 177 licence holders and $87.3bn in QFII quotas to 278 licence holders, according to SAFE.

China’s renminbi qualified foreign institutional investor (RQFII) and qualified foreign institutional investor (QFII) schemes allow foreign institutional investors to invest in onshore assets using offshore RMB and US dollars, respectively.

Two firms received RQFII quotas for the first time: Allianz Global Investors (RMB 4bn) and Eugene Investment & Securities (RMB 700m).

UBS SDIC Asset Management (Hong Kong) received a QFII quota for the first time, which was $100m. UBS SDIC in Hong Kong is a subsidiary of China-based UBS SDIC Fund Management, which is a joint venture between SDIC Taikang Trust and UBS, according to information on the firm’s website.

Additional QFII quotas were given to Deutsche Bank Aktiengesellschaft (plus $100m for a total of $600m) and CMS Asset Management (HK) (plus $700m for a total of $720m).

Part of the Mark Allen Group.