You are right, according to the product disclosure statement:
China A shares - 50-100%
Bonds (RMB) - 0-30%
Cash Investment - 0-20%
They must invest the $200M USD by 1st Feb 2007 according to their license QFII
I guess if the market is done, they have the flexibility to liquid their shares into cash investment and vice-versa.
You are right, according to the product disclosure...
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