InfoQuest (November 14, 2019) -- Finance Minister Uttam Sawangnoon said the Fiscal Policy Office (FPO) is currently working on details of new funds to replace long-term equity funds (LTFs), and revealed a clear conclusion will be reached within two weeks.
He pointed out that the basic goal of the new type of funds is to promote permanent savings and to cover a wider range of target groups, including the elderly and the salariat. New funds must manage to meet these needs because long-term investments are also good for capital markets.
Mr. Uttam said it was yet too early to say whether the investment holding period of new funds will be longer than LTFs' seven year, but stressed that the FPO will try to satisfy long-term investment needs.
"The FPO is currently engaged in a detailed study on this issue, thus the results are yet to make public. There is still time, and I believe a conclusion will be reached within 2 weeks…Regarding the details such as the holding period and specific conditions of new funds, the FPO is conducting research. Some other conditions may have to be adjusted as well, not just holding terms. Please be patient." said Mr. Uttam.
Source: InfoQuest, by Kasamarporn Kittisamphan/Rachada/Sasithorn, translated by Xinhua Silk Road
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