Biggest Thai Pension Fund Shifts to Stocks as Bond Yields Slide
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A woman uses a walking cane as she walks at Lumphini Park in Bangkok.
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Social Security Office awaits board approval: investment chief
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Cash surplus increasing demand for Thai debt, says Chompoopen
Thailand’s biggest pension fund plans to shift some of its 77 percent investment in bonds to stocks as a slide in yields erodes returns for its 14 million members.
The Social Security Office, which invests part of its $39.2 billion in government bonds and those of state enterprises and private companies, will switch to more “risky” assets upon approval from the board of directors, Chompoopen Sirithorn, its Bangkok-based head of investments, said in an interview. The yield on the 2040 sovereign debt, among the longer-maturities favored by pension funds and insurers, has plunged to 3.2 percent compared with a six-year average of 4.18 percent, Thai Bond Market Association data show…
Biggest Thai Pension Fund Shifts to Stocks as Bond Yields Slide
