Kuwait Investment Authority, Kuwait City, garnered an additional quota of $500 million this month for investment in China’s domestic stock and fixed-income markets, lifting the sovereign wealth fund’s overall quota to $1.5 billion, according to the latest tally announced Monday on the website of China’s State Administration of Foreign Exchange.
The $410 billion KIA becomes the fourth sovereign wealth fund to reach the $1.5 billion mark under the Qualified Foreign Institutional Investor program China launched in 2002 to open domestic markets to foreign investors, following the $326.7 billion Hong Kong Monetary Authority in August, 5.075 trillion kroner ($814 billion) Government Pension Fund Global, Oslo, in September and Singapore’s $173.8 billion Temasek in October. All dollar figures are in U.S. dollars.
For more than a decade, the highest quota awarded by SAFE had been $1 billion.
Among other institutional investors winning quota capacity in January, Bank of Korea got an additional $300 million, lifting its overall quota to $600 million.