Thailand Unveils $4.3 Billion Initiative to Support Stock Market
- Vayupak fund to guarantee minimum return, principal protection
- Thailand’s stock index has lost about 8% as foreign funds exit
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Thailand’s state investment fund plans to raise up to 150 billion baht ($4.3 billion) to help support Asia’s worst-performing stock market.
The Vayupak Fund aims to complete the capital raising from the public in the third quarter, Finance Minister Pichai Chunhavajira told reporters Tuesday. The fund, which has assets of about 300 billion baht, will guarantee a minimum annual return and principal protection, he said.