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Published on September 25, 2007

GPF secretary-general Visit Tantisunthorn said SCIB would

operate the new fund by using part of money from its members who were retiring this year - worth a total of

Bt6 billion - to invest in a mixed

fund. Although the details of the new fund's investment policy are still not finalised, the GPF expects 20 per cent of the Bt6 billion to be invested in the new fund.

The bank will establish both an initial public offering (IPO) date and an investment policy.

"The IPO date has not yet been set, but it will be roughly in early October," Visit said. "The money will be derived from those who retire on September 30 this year. To law stipulates it will be about two months before retirees can withdraw their pension, so investing in the new fund would be a good alternative."

However, Visit expects only 20 per cent of the Bt6 billion worth of retiree assets to be invested in the new fund, because retirees may want to put their money into other investment channels. However, there may be more than 20 per cent of subscriptions on the IPO date.

Siriporn Chanjindamanee

 The Nation