Thailand’s cabinet has approved the expansion of an existing government equity mutual fund “Vayupak Fund 1” to invest in Thai stocks, as announced by Deputy Finance Minister Paopoom Rojanasakul on Tuesday.
However, Paopoom did not reveal the specific increased amount. Previously, Finance Minister Pichai Chunhavajira had indicated that the fund’s size would be raised from 100 billion baht ($2.84 billion) to 150 billion baht.
The Vayupak Fund plans a new public offering in the third quarter of this year with a minimum guarantee return and also providing principal protection.
The Thai stock market has shown poor performance this year, being the worst performer in Asia in 2024. The SET Index is down 9.5% so far in 2024.
