More than 50 funds will be launched under the Thai ESG Extra (ESG X) scheme in May, according to Thailand’s Association of Investment Management Companies (AIMC).
According to Chavinda Hanratanakool, chairwoman of AIMC, the scheme will bring more than 20 billion baht (US$586 million) of new liquidity to the Thailand stock market.
She also expects that about half of the maturing long-term equity funds (LTFs), equivalent to 85 billion baht, will be transferred to funds under ESG X scheme.
“There is about 170 billion baht remaining in LTFs awaiting redemption, of which half is expected to be transferred to Thai ESG X funds,” she said during a media conference on March 31.
Sales of Thai ESG X funds are slated to become available during May and June.
Chavinda said the AIMC is scheduled to meet with the Securities and Exchange Commission Thailand (SEC) this week to discuss additional law enforcement measures after the government resolved to increase the SEC’s authority to conduct investigations related to stocks and investment.
