China’s State Administration of Foreign Exchange awarded quotas of $200 million apiece at the end of June to the 241.5 billion krona ($36.2 billion) AP2, Gothenburg, Sweden, and the $56.6 billion Korea Investment Corp., Seoul.
In addition, five money management firms received allotments of $100 million apiece in the latest batch of quotas extended under China’s qualified foreign institutional investor program:
- Legg Mason (LM) Investments (Europe)
- UBS Global Asset Management (Hong Kong)
- AEGON USA Investment Management
- HSBC Global Asset Management (Taiwan)
- ICBC Investment Management Co.
The quota for AP2 was the Swedish fund’s first, while the $200 million quota for KIC was its second, following an initial quota of $200 million awarded in March 2012.
Details of quota allocations are released periodically on the SAFE website. Following the award of quota capacity, recipients have roughly six months to invest the amount awarded in China-listed securities.
