Published by Fund Selector Asia – 1st Nov 2018
The firm has been awarded additional quota for China’s inbound investment programme, according to records from the State Administration of Foreign Exchange (SAFE).
China’s qualified foreign institutional investor scheme (QFII) and its renminbi equivalent (RQFII) allow foreign institutional investors to invest in onshore assets, within allocated quotas.
Schroder Investment Management in Hong Kong received an additional RMB 2.5bn ($360m) quota in October under the RQFII scheme. In total, its RQFII quota is at RMB 3.5bn.
The firm also has a quota under the QFII scheme, which is at $425m, according to SAFE records.
A number of foreign managers have increased their RQFII quotas this year, including State Street Global Advisers, UBS Asset Management, Blackrock and Aberdeen Standard Investments.
Schroders has a presence on the mainland via its joint venture, Bank of Communications Schroder Fund Management, in which it has a 30% stake. The firm also has a private fund licence on the mainland, which it obtained in December last year, and has already launched an onshore product.
On the QFII front, Stanford University received an additional $97m in quotas, which makes its total quota $177m, according to SAFE records.
Since the quota programmes began, SAFE has awarded a total of RMB 642.7bn in RQFII quotas to 203 holders and $100.25bn in QFII quotas to 286 licence holders, according to SAFE records.
