Government Pension Fund Targets AI, Thai Stocks After 7.3% Return Amid Volatility
Updated
Updated · Bangkok Post · Aug 12
Government Pension Fund Targets AI, Thai Stocks After 7.3% Return Amid Volatility
2 articles · Updated · Bangkok Post · Aug 12
Summary
Returns of 7.2%-7.3% this year have kept Thailand's Government Pension Fund on track to maintain at least that level for 2026, even after seven months of heightened market risk.
AI and Thai equities are the fund's main focus because it sees the sector as a productivity-driven structural shift and Thai stocks as a relative safe haven while some overseas markets face bubble concerns.
About 5% of the portfolio is currently in the SET index, while members can voluntarily raise Thai equity exposure to 35%; the fund also trims tech holdings when rallies push valuations too high.
Thai stocks have traded below intrinsic value for more than three years, GPF said, and could draw foreign money back if national projects, improving earnings and stronger market governance gain traction.
US Federal Reserve policy, geopolitical tensions, oil prices and fast-moving investor sentiment remain key risks as the fund prepares to outline its broader strategy under new management on Aug. 27.