Disillusioned with a weak stock market at home, geopolitical risks and a falling currency, Chinese investors are pouring money into investment products with exposure to overseas assets that will also help diversify their portfolios.
Asset managers are finding the State Administration of Foreign Exchange is slow in approving further QDII quota, having already granted $5.8 billion in quotas in two rounds this year.
Tianhong, which is planning new QDII products, obtained a $120 million fresh QDII quota in July, less than it had hoped for. Liu expects capital outflows could hit historical highs and says the situation is unlike the 2015 bout of massive outflows amid yuan depreciation "which was driven by those gray area transactions."
Assets under management at Guangfa NASDAQ-100 ETF , one of the largest QDII ETFs, jumped 48% in the first half to 17 billion yuan, while some other popular QDII funds such as E Fund’s S&P Information Technology Index Fund and S&P 500 Fund had to suspend subscription earlier this year to control their fund sizes.
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