BANGKOK, Nov 3 (Reuters) - Thai cabinet approved a plan by the Government Pension Fund (GPF) to lift its overseas investment ceiling to 30 percent from 25 percent to boost investment returns, a government spokesman said on Tuesday.
GPF is the country’s largest pension fund, which manages civil servants’ savings. It plans to gradually lift its overseas investments to up to 40 percent.
The fund was also allowed to increase its investment limit in property to 12 percent from 8 percent, Sansern Kaewkamnerd told a news briefing.
“The change has taken into account any possible impact on the Thai stock exchange,” he said.
At the end of August, the fund had 524 billion baht ($14.72 billion) worth of assets under management, with 63 percent in domestic bonds, according to its website. (bit.ly/1Ww9LAz)
$1 = 35.6000 baht Reporting by Kitiphong Thaicharoen; Writing by Viparat Jantraprap; Editing by Robert Birsel