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Benchmark
  •  How to determine benchmarks
     

             The Security and Exchange Commission (SEC) approves of the notification of Association of Investment Management Company (AIMC) regarding new benchmarks for assessment of provident funds’ performance. The new benchmarks will be in line with investment policies and reflect fund managers’ actual ability to manage portfolios of the funds. This will enable fund committees and members to monitor the fund's performance efficiently. 

             Benchmarks are classified by types of assets. In case where a provident fund invests in more than one type of assets, the appropriate benchmark of such fund must be the composite benchmark which is weighted by benchmarks corresponding to investment policy.
 

Types of assets

Benchmarks

1. Equity

Return of SET Index /SET 50 Index /SET 100 Index /
SET TRI /SET 50 TRI /SET 100 TRI

2. Fixed Income
    2.1 Government bonds

 
Return of
 -
ThaiBMA “ZRR” Government Bond Index
 - Total Return of ThaiBMA Government Bond Index  

    2.2 General bonds
           (government bonds + corporate bonds)

 Return of
- ThaiBMA “ZRR” Composite/ Government Bond Index
 
- Total Return of ThaiBMA Composite/ Government Bond Index

3. Fixed deposit

 Average 1-year fixed deposit interest rate which provident funds shall obtain from BBL, KBANK, SCB and KTB for principal equal to 1 milllion bahts.

                   Note: For composite benchmark, the benchmark of equity must be weighted by investment in equities which is not less than average of minimum limit and maximum limit ((minimum limit + maximum limit)/2) which are prescribed in an investment policy.

             Investment Management Companies must provide provident funds’ performance and benchmarks which are calculated from the same period as the funds’ performance for fund committee and fund members.
  • Fund performance evaluation
             Returns of each fund should be compared to their benchmarks because each fund has their own investment policies, different from other funds. However, if members would like to compare among funds, the rough comparison among funds must be conducted only among funds of the same type and in the same period. For comparison of aggregate performance of all funds which are managed by an investment management company to average return of the industry, the said performance must be compared only with the funds of the same type and in the same period.


Reference benchmark

Industry composite return (available in Thai only)

last updated date 27/04/2553

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