Posted inRegulation

Eight firms granted new RQFII, QFII quotas in November

Aberdeen, Eastpring and Thailand’s Kasikorn Asset Management are among the firms granted investment quotas in November.

In total, China’s State Administration of Foreign Exchange awarded around RMB 523.8bn ($76 bn) in RQFII quotas to 175 licence holders and $86.4bn in QFII quotas to 277 licence holders, according to SAFE.

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

Four firms received RQFII quotas for the first time, including Thailand’s Kasikorn Asset Management (RMB 1.1bn), Carne Global Fund Managers (Luxembourg) (RMB 687m), Canada Pension Plan Investment Board (RMB 100m) and Soochow Securities CSSD (Singapore) (RMB 1.5bn).

Aberdeen Asset Management Asia was granted an additional RMB 5.4bn in quotas, for a total of RMB 7.3bn.

In the QFII space, first-timers include Eastspring Securities Investment Trust ($20m), China Everbright Securities Asset Management ($700m), China Post & Capital Global Asset Management ($100m) and ABCI Asset Management ($50m).

Additional quotas were given to UBS AG (plus $400m for a total of $2.2bn) and Oppenheimer Funds (plus $1bn for a total of $1.5bn).

Goldman Sachs Asset Management’s QFII quota was reduced from $60m to $30.2m.

Part of the Mark Allen Group.