GPF adjusts strategies to tackle repercussions from global financial crisisSeptember 22nd, 2008 - 11:26 am ICT by Amrit Rashmisrisethi
The Government Pension Fund (GPF) has announced its investment strategies to address possible consequences, resulting from global financial crisis. By new strategies, GPF will hold more cash, delay their investments and follow up investment situation closely.
Mr. Wisit Tantisunthorn (วิสิฐ ตันติสุนทร), the GPF Secretary-General, says the GPF’s new investment strategies are rolled out in line with current economy conditions, and GPF has refrained itself from additional investments in both Thai and foreign stocks. He says GPF will likely invest its money in fixed income segment as inflation pressure has decreased.
Mr. Wisit says the decline of inflation pressure has resulted in the decrease of interest rate, which will become a positive factor to bond markets, adding that GPF needs to closely observe and see further investment movements. In terms of investment port, he says GPF has invested 68.5 percent of money in fixed income markets, 9.5 percent in domestic stock markets, 14 percent in foreign bourses, 4 percent in property markets and another 4 percent in other segments.
In terms of impacts from the US’ recent financial deficits, Mr. Wisit views financial institutions won’t be directly affected since not many investors from Thailand are involved in the business of bankrupt financial institutions in the US. He says financial institutions in Thailand may receive only slight impacts from the crisis in line with the sluggishness of global economy.
Source : National News Bureau, Public Relations Department of Thailand