Bangkok--24 Oct--SET
The Stock Exchange of Thailand (SET) revealed that during July — September 2006, the “Let’s Activate Your LTF” (long-term equity funds) campaign boosted the amount of funds that were invested in LTFs for three consecutive months by 565%. Total net asset value (NAV) also increased by THB 1.35 billion.
The SET, in conjunction with Securities and Exchange Commission, Revenue Department, and 18 investment management companies, has launched a campaign to promote investment in LTFs. This will increase the proportion of institutional investors, through unit trust holders, in the Thai market. Moreover, the campaign promotes constant investing throughout the year, instead of year-end concentrations for tax purposes, said Mr. Vichate Tantiwanich, an Executive Vice President of the SET.
If investment is made in LTFs for three consecutive months from July 1 — December 31, 2006. investors will be entitled to 100 chances for prizes, each worth THB10,000. The first draw was made on October 20; the second and third will follow in November and December, respectively.
“After three months (July — September), the NAV of LTF funds increased by THB 1.35 billion (from THB 15.53 billion to THB 16.88 billion). LTF accounts with monthly deposits for each of the past three months have increased from 485 (April — June) to 2,398 (July — Sep.) by 494%. Investment amount has risen from THB 20 million to 112 million, or by 565%. Additionally, 41% of the people who invested in July have consistently done so for three months,” said Mr. Vichate.
Between July and September, 4,845 new accounts were opened.
“The campaign was successful in terms of investment amount, investment period distribution, and encouraging people to invest each month. The SET will continue to promote investment in LTF. Past LTF activities included 45 PR and marketing events co-hosted with the Association of Investment Management Companies and its members, as well as SET member companies,” SET EVP concluded.
More information and a list of lucky LTF unit holders will be available on www.set.or.th and www.aimc.or.th from October 27 onwards. It will also be published in M & W (Money & Wealth) Magazine, November Issue, and will be available from today at SET Call Center 0-2229-2222.
For more information, please contact the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 / Watsamon Saowakhonsathien Tel: 0-2229-2797