Korean managers ready next QFII wave

There are three South Korean asset managers with fund products that directly access China's capital markets. They will soon be joined by three more. Korea Investment Trust Company (KITC) and Tong Yang Investment Trust Management have received approval from the China Securities Regulatory Commission to manage A-shares and renminbi cash and bonds. KITC has been granted a $100 million quota from the State Administration of Foreign Exchange (Safe), while Tong Yang is still waiting on a q…