Bangkok--22 Jan--SET
The Stock Exchange of Thailand (SET) declared that long term equity fund (LTF) investment from July to December, 2006 climbed by THB 10.29 billion, contributing to the funds’ net asset value (NAV) of more than THB 25.00 billion. December saw the highest investment in LTF, as more than 70,000 accounts were created. More than 40% of investors maintained their LTF investment for 3 consecutive months during 2H/2006.
Much of the growth in LTFs is directly attributable to the ““Let’s activate your LTF” campaign, which ran from July to December 2006, SET Executive Vice President (Capital Market Opportunity Center) Mr. Vichate Tantiwanich said.
“LTF accounts grew on a monthly basis during 2H/ 2006, especially in December, which was the last opportunity for investors to claim the tax privilege. In that month 73,948 LTF accounts were activated, four and a half times the November result of 16,330. From July to December 2006, there were more than 43,000 new accounts, demonstrating the greater public understanding of LTF”, said Mr. Vichate.
The campaign’s success is evidenced, by not only the increase in accounts, but also by the increase in investment on a three-month consecutive basis, e.g. July — September, 2,376 accounts, (41% of all accounts); August — October: 3,163 accounts, (53% of all accounts); September— November: 3,610 accounts (40% of all accounts); October — December: 4,543 accounts (41% of all accounts).
The LTF project was carried out with the cooperation of the Revenue Department, Securities and Exchange Commission, the Association of Investment Management Companies, the “Let Your Money Work for You Through Mutual Funds” project and SET. It promoted savings and long-term financial planning and investment through financial institutions, aiming to improve the balance between institutional and individual investors on the Exchange.
SET in collaboration with 18 fund management companies held 68 workshops and seminars, focusing on LTF investment by employees of listed firms and other agencies. Feedback was positive with 34 new LTFs introduced by securities companies leading to a rise in NAV of THB 25.19 Billion.
This project also rewarded investors who invested in LTF for three consecutive months, starting from July 2006, with cash prizes. On January 19, 2007, there was the last lucky draw for 100 prizes, each worth up to THB 10,000 to be invested in an LTF. For more information about LTFs, or to find out who the prizewinners were, visit the SET website at www.set.or.th/ltf or contact SET Call Center at 0 2229 2222 from January 26.
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