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Provident funds see slower growth in 2008



The provident fund industry showed a small growth rate last year despite the increasing number of employers and employees, due to the global economic impacts

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 At the end of the year, net asset value of the industry stood at Bt465.3 billion, up 5.3 per cent on year, according to the figures from the Securities and Exchange Commission. The NAV showed the slower growth rate due to the sharp declines in debt instrument prices, particularly in October.

 At the end of the year, 77.1 per cent of the NAV was invested in the bond market, followed by 12.7 per cent in deposit accounts and 7.4 per cent in equities.

 

 The annualised growth rates during 2004 and 2007 were 6.3 per cent, 13.2 per cent, 13.0 per cent, and 13.0 per cent, respectively.



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