Brokers Reevaluate Vayupak Mutual Funds: Restrictions on Investing in SCB and PTT Stocks

According to a survey of data from the Stock Exchange of Thailand, it was found that since the beginning of September 2024, PTT stock prices have increased by only 0.75% from a price of 33.50 baht, rising to 33.75 baht, while SCB shares have increased by 4.67% from a price of 107 baht to 112 baht.

Krungsri Securities’ Analysis

Krungsri Securities said that by bringing back the Vayupak Fund, KSS sees points that are likely to continue to support the stock market, including:

• The money raised in this round of 150 billion baht will be new money that will be gradually invested in the market from 1 October 2024.
• Funds, although you can choose to invest in a variety of assets, will mainly focus on investing in Thai stocks.
• Capital funds that will increase expect to see distribution of investment funds. Focus on investing in stocks with a high ESG Score, focus on stocks with an ESG A score of SET100 A or higher, those below SET100 with a score of AA or higher.
• Restrictions on certain funds, such as investing in any one stock not exceeding 25% of NAV and any one business sector not exceeding 30% of NAV, including investing in any one stock that is not more than 25% of the voting rights. It should limit the opportunity to increase money in PTT and SCB.
• Vayupak’s return framework of 3-9% should attract new funds close to the fundraising target of 150 billion baht.

Shareholding Structure of PTT and SCB

In addition, if we look at the shareholder structure of PTT, there is Vayupak Nueng Mutual Fund by MFC Asset Management Public Company Limited holding 1,736,895,500 shares, accounting for 6.08%.

While SCB found that there Vayupak Nueng Mutual Fund holds 549,600,000 shares, accounting for 16.32%, Vayupak Nueng Mutual Fund by MFC Asset Management Public Company Limited, 117,849,100 shares, accounting for 3.50%, Vayupak Nueng Mutual Fund by Public Asset Management Company Limited, 117,849,100 shares, accounting for 3.50%, Vayupak Nueng Mutual Company Limited 117,849,100 shares, accounting for 3.50%.