Taiwan’s Mega International Investment Trust has received QFII status from the China Securities Regulatory Commission (CSRC), according to United Daily News.
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Mega International is the subsidiary of First Financial Holdings, an entity of Taiwan’s government-affiliated First Bank.
Earlier in March, First Financial Holdings (and another subsidiary First Securities Investment Trust Co (First SITC)), was awarded a US$50 million QFII quota from China’s State Administration of Foreign Exchange (Safe).
An increasing number of mid-sized asset managers in Taiwan have tapped into the QFII market after CSRC lowered the AUM requirement on Taiwanese asset management firms from US$5 billion to US$500 million last year, reports United Daily News.
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