Aberdeen says gets China QFII licence

SHANGHAI | Thu Aug 12, 2010 5:17am EDT

SHANGHAI Aug 12 (Reuters) - The Asia unit of Aberdeen Asset Management Plc (ADN.L) said on Thursday it has obtained a licence to invest in Chinese securities under the country's Qualified Foreign Institutional Investor (QFII) scheme.

The British asset manager has been awarded the QFII licence by the China Securities Regulatory Commission and is now awaiting a separate foreign exchange quota, worth up to $200 million, the company said in a statement.

Aberdeen, although chiefly known for its expertise in Asian equities, had sought permission for the QFII licence mainly with its growing fixed income franchise in mind, according to the statement. ($1=6.77 Yuan) (Reporting by Samuel Shen and Jason Subler; Editing by Jacqueline Wong)

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