China's regulators awarded a combined $300 million in quotas to a trio of institutional investors for direct investments in China's capital markets, under that country's qualified foreign institutional investor program.
According to information released Wednesday on the website of China's State Administration of Foreign Exchange, the British Columbia Investment Management Corp. got an additional $200 million quota, while the University of Texas System board and the University of Washington received quotas of $50 million each.
It was the second quota for both BCIMC, following an initial $100 million award in February 2013, and the University of Texas, Austin, on the heels of a $100 million quota in September 2012. This is the first quota for the University of Washington, Seattle.
In addition, a handful of money management firms, brokerage houses and insurance companies got a combined $550 million in quotas in April, while HSBC Global Asset Management (Hong Kong) returned $10 million in unused quota.