Launches & Closures

Principal Global receives QFII license


China’s State Administration of Foreign Exchange (SAFE) has granted a $150 million quota to Principal Global under a Qualified Foreign Institutional Investor (QFII) license that allows the latter to directly invest in local China A-shares.

Principal says it is offering to non-US institutional investors a qualifying investor fund domiciled in Dublin, Ireland that allows them access to China shares through the QFII license. The investment team for the fund will be located in Hong Kong, Singapore and the US.

Jim McCaughan, the CEO of Principal Global Investors, said that despite the recent growth slowdown, China continues to be