GPF set to invest in foreign property
The board of the Government Pension Fund has approved a plan to invest in overseas real estate starting next year, said Sopawadee Lertmanaschai, secretary-general of the GPF.
The country’s largest pension fund can invest as much as Bt7.5 billion or 2 per cent of its total portfolio, she said.
The GPF will choose two fund managers to oversee property investments and it will take about three to four months to recruit them. The investment could start by the middle of next year.
Sopawadee said she expected that property would generate consistent revenue from rentals. As the global economy is slowing down, the price of such properties as office buildings have dropped, providing greater opportunity for investment in such assets, she said.
Currently, the GPF has investments of about Bt13.5 billion in local property including office buildings, serviced apartments and property funds.
-
