Singapore's GIC has become the fifth asset owner to hit $1.5 billion in quota under China's qualified foreign institutional investor (QFII) scheme after receiving another $500 million on Friday.

The Monetary Authority of Macao also obtained $500 million in QFII quota last month -- its first batch, after obtaining the licence in January.

The Hong Kong Monetary Authority was the first to hit the $1 billion mark in August, and was followed by Kuwait Investment Authority, Norges Bank Investment Management and Temasek Fullerton Alpha Investments.

Others expected to join the $1.5 billion club include Middle Eastern state funds Abu Dhabi Investment Authority and Qatar Holding, and Malaysia's central bank.

Last month there other recipients of QFII quota were Macquarie Bank with $200 million, while Mega International Investment Trust, Huan Nan Investment Trust and European Reinsurance Company of Zurich each received $100 million.

ING Bank, on the other hand, has returned $190 million in quota, reducing its total to $210 million. (If quota is not used to invest in mainland securities within a certain time frame, it must be given back.)

As for reminbi qualified foreign institutional investor (RQFII) quota, Haitong International got the biggest handout last month, receiving Rmb2 billion ($322 million) and Rmb1 billion on 21 and 25 March, respectively. A Haitong source says the Rmb2 billon will be used for the Haitong CSI 300 RQFII exchange-traded fund, which listed on March 7.

The ETF had received an initial quota of Rmb2 billion quota,of which 80% has been used, the source says.

The other Rmb1 billion is earmarked for Haitong's segregated account business, which mainly focuses on Hong Kong, Singaporean and Taiwanese institutional investors.

At the same time, E Fund has obtained Rmb2 billion in RQFII quota, which it will use to develop its segregated account mandates, says a source. Bosera International also received Rmb2 billion, while ICBC (Asia) Investment Management and China Life Franklin Asset Management were handed Rmb1.5 billion.

Several fund houses obtained Rmb1 billion: China Merchants Securities (HK), Fortune SG Fund Management (Hong Kong), Fullgoal, Greenwoods Asset Management, Harvest Global Investments, Huatai Financial Holdings, Taikang Asset Management and UBS Global Asset Management.

Meanwhile, Guotai Junan and Guoyuan Asset Management each won Rmb800 million, and Taiping Asset Management got Rmb500 million.

As of the end of March, $53.6 billion in QFII quota has been awarded to 241 firms and Rmb200.5 billion of RQFII quota has gone to 62 recipients.