State funds get $1.2 billion more QFII quota

China continues to award increasingly chunky QFII quotas ever more swiftly. Last month two sovereign wealth funds hit $1 billion and eight asset managers received their first allocations. The State Administration of Foreign Exchange (Safe) granted Abu Dhabi Investment Authority $500 million and Kuwait Investment Authority $700 million in additional quota. That takes them to $1 billion each, which was the limit for an individual institution until December, when Safe said it would r…