BEIJING, June 4 (Xinhua) -- State Administration of Foreign Exchange (SAFE), the Chinese forex regulator, granted 32 mutual fund companies more qualified domestic institutional investor (QDII) quotas in May, reported Securities Daily on Tuesday.
SAFE approved by the end of last month 167.789 billion U.S. dollars of QDII quotas, 2.27 billion U.S. dollars higher than the 165.519 billion U.S. dollars of quotas nodded by the end of April this year.
SAFE gave 60.79 percent of the newly-added May QDII quotas, which stood for 1.23 billion U.S. dollars, to the 32 mutual fund companies.
Among them, 21 mutual fund companies obtained QDII quotas that were 50 million U.S. dollars more than their exiting quotas at the end of April. One mutual fund firm got a quota increase of 40 million U.S. dollars. Another four ones were approved to embrace a 20 million U.S. dollar rise in their respective QDII quotas and six more of them hailed new QDII quotas that were 10 million U.S. dollars more than the comparable April ones.
Statistics with Choice, a financial data provider in China, showed that the number of QDII funds issued by related institutions including mutual fund firms, usually called publicly-offered fund companies in China, jumped up to 295 ones by Monday and their underlying net assets reached 419.621 billion yuan.
By May 31, 189 institutions had been nodded to have QDII quotas in China, including 41 banks, 76 securities-related institutions such as mutual fund firms, securities brokers and their asset management companies, 48 insurers and 24 trust institutions, according to Choice.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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