Kuwait state fund joins $1.5bn QFII club

Kuwait Investment Authority has become the fourth entity to hold more than $1 billion in quota under China’s qualified foreign institutional investor scheme. The sovereign wealth fund obtained an additional $500 million QFII quota in January, bringing its total to $1.5 billion, alongside three other institutions. KIA has $410 billion in assets, according to the Sovereign Wealth Institute, and is the world's oldest SWF, set up in 1953. The Hong Kong Monetary Authority (HKMA) was …