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Posted Date: 8 January 2008
Mr. Maris Tarab, AIMC Chairman, announced the result of performance of LTF and RMF in 2007. LTF net asset value (NAV) surged from 2006 to almost double or up 96% while that of RMF went up 49%. Total NAV of both types of funds amounted to Bt. 87,424.95 million, an increase of 72.57% from the foregoing year which saw total NAV of Bt. 50,661.66 million.
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NAV
(Bt. million) |
December 2006 |
December 2007 |
Growth (%) |
|
LTF |
25,186.42 |
49,408.05 |
96.17 |
|
RMF |
25,475.24 |
38,016.85 |
49.23 |
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Total |
50,661.66 |
87,424.90 |
72.57 |
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Number of unitholders
(persons) |
December 31, 2005 |
December 31, 2006 |
December 31, 2007 |
|
LTF |
73,585 |
122,039 |
148,245 |
|
RMF |
70,672 |
91,704 |
111,185 |
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Total |
144,257 |
213,743 |
259,430 |
The AIMC Chairman said the inflows of money to invest in LTF and RMF came from both the existing investors and the new ones following the concerned agencies’ ongoing dissemination of investment knowledge to investors, which encouraged them to shift their savings from bank deposit accounts more to mutual fund investments. Particularly, there was collaboration between AIMC and the Stock Exchange of Thailand (SET) in expanding investor base through such a program as “Let Your Money Work Through Mutual Funds,” the success of which could be seen from the “Last-minute Tax Saving Fair” held on December 15-16 and 22-23, 2007, where as high as Bt. 387 million went to both funds.
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Date |
Number of investors (persons) |
Investment amount (Bt.)
|
|
RMF |
LTF |
Total |
RMF |
LTF |
Total |
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Dec 15, 2007 |
281 |
539 |
820 |
21,291,485 |
41,469,445 |
62,760,930 |
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Dec 16, 2007 |
190 |
503 |
693 |
12,079,315 |
49,910,135 |
61,989,450 |
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Dec 22, 2007 |
476 |
641 |
1,117 |
53,541,281 |
78,508,112 |
132,049,393 |
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Dec 23, 2007 |
409 |
882 |
1,291 |
43,245,288 |
87,417,878 |
130,663,166 |
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Total |
1,356 |
2,565 |
3,921 |
130,157,369 |
257,305,570 |
387,462,939 |
“The number of investors in these types of funds might be small in the beginning as they were not sure about the risk of returns for holding the units for five years. Thus, the investors’ investment objective was mainly for tax saving reason, and that was why some investors had not yet made their investment decision. However, when the returns on investment in each fund have gradually been announced, i.e. average 40% for the past three years, the investors have increasingly been confident and made more investments in both types of funds. Now they base their decision on both returns and the tax saving benefits,” Mr. Maris said.
Mr. Maris added that both types of funds would continue to be popular among the investors. Although in 2008, some LTF would become due and redeemable, hence some redemption to take place, he was still confident that the investors would reinvest in these funds. It was found that LTF NAV on January 4, 2008, which was the beginning of the first week for the redemption, declined only 1.32% from December 28, 2007, compared with the SET index drop of 4.24%.
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