China Asset Management (Hong Kong) has revealed that that its ChinaAMC Select Fund has been awarded an additional RMB800 million (US$127 million) in RQFII quota from the State Administration of Foreign Exchange (Safe) on 3 July 2013.
As a result, the total RQFII quota available for the Sub-Fund was RMB2.8 billion as at 3 July 2013.
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The ChinaAMC Select Fund was launched in February 2012 and was China Asset Management (Hong Kong)’s first RQFII product. The fund primarily invests in China’s domestic equity and fixed income markets.
The fund, together with the firm’s second RQFII product, the ChinaAMC CSI 300 Index ETF, has drawn down a total of RMB18.8 billion worth of RQFII quota, according to journal Asia asset Management.
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