Banks and institutional fund managers in China have started submitting product profiles to regulators as the State Administration of Foreign Exchange is expected to release a round of quotas for the Qualified Domestic Institutional Investor programme. Richard Surrency, head of Morgan Stanley's Transition Management operations in Singapore, said optimism toward the programme remains. "While we can expect retail interest to be more subdued, fund managers are now able to utilise some of their QDII quota for discretionary-fund accounts. ... These discretionary accounts may very well be the most interesting dynamic within the QDII program since its inception," he said.

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