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BlackRock awarded additional USD400 million QFII quota
BlackRock has been awarded additional Qualified Foreign Institutional Investor (QFII) quota of US$400 million by the State Administration of Foreign Exchange (SAFE)
The Asset 7 Sep 2015

BlackRock has been awarded additional Qualified Foreign Institutional Investor (QFII) quota of US$400 million by the State Administration of Foreign Exchange (SAFE).

 
The additional QFII quota takes the total amount allocated to all BlackRock entities to US$1.25 billion. The QFII allocation sits alongside the firm’s existing RMB4.1 billion of Renminbi Qualified Foreign Institutional Investor (RQFII) quota.
 
Marc Desmidt, Head of Strategic Product Management for Asia Pacific says: “As the leader in global cross-border investing, BlackRock welcomes and applauds the Chinese government's policy of opening the Chinese capital markets and broadening global investors' participation in domestic stock markets.
 
“We are delighted to have received additional quota to invest directly in China’s onshore capital markets. The award is recognition by SAFE of our continued commitment to growing the BlackRock China business. China is an important investment destination for our clients globally and we look forward to the award adding to the investment solutions we offer our clients,” Desmidt says
 
Including the most recent award, BlackRock has the following onshore China investment quotas:
 
QFII
 BlackRock Institutional Trust Company, US$250 million
 BlackRock Asset Management North Asia Limited, US$1 billion
 
RQFII
  BlackRock Asset Management North Asia Limited, RMB2 billion (US$310 million)
  BlackRock Advisors (UK) Limited, RMB2.1billion (US$330 million)

 

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