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Thailand to expand state equity fund by up to $4.3 billion to invest in local stocks

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BANGKOK : Thailand will increase the size of a state mutual fund by between 100 billion baht and 150 billion baht ($2.8 billion-$4.3 billion) to invest in local stocks, officials said on Tuesday, in a bid to support Asia's worst performing market this year.

People shop at a market as Thailand is to inject $15.2 bln into economy next year through its digital wallet policy, in Bangkok, Thailand, October 2, 2023. REUTERS/Athit Perawongmetha/ File Photo

The Vayupak Mutual Fund will offer new units to the public by September, Finance Minister Pichai Chunhavajira told reporters."The project should restore confidence in the capital market", Pichai said, adding the government was also considering other support measures. Lavaron Sangsnit, the finance ministry's permanent secretary, said the new fund units would have a maturity of 10 years and would be registered on the exchange. Other details will be announced later, he added.

 

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