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Super Savings Funds surge past Bt1 billion

Oct 20. 2020
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By The Nation

Assets under management (AUM) of the Super Savings Funds (SSFs) scheme totalled Bt1.05 billion on October 14, Morningstar Research said on Tuesday.

Chayanee Juengmanon, a Morningstar senior analyst, said the funds' assets in the third quarter hit Bt908 million, up more than three times from around Bt200 million in the previous quarter.

She said the group of SSFs with the highest growth was large-cap equities, which more than tripled to Bt312 million, from Bt100 million in the previous quarter.

"Meanwhile, global equities rose to Bt264 million, up 4.5 times from Bt48 million in the previous quarter," she said.

"Currently, there are 81 SSFs, while the market share of the top five asset management companies is 82 per cent, led by Kasikorn Asset Management with 28 per cent of the market and AUM of Bt254 million."

She said SSFs have a chance to grow from investment abroad, as investors are paying attention to China’s economic recovery and the rise in technology shares, while the Thai stock market is being pressured by Covid-19’s impact on the economy and political unrest.

"As SSFs were designed for long-term investment, investors should focus on asset allocation and study information on each SSF before investing because there are differences in investment policies and fees," she added.

The SSFs are a government-led initiative to boost savings and investment by offering a 30 per cent tax deduction on contributions, capped at Bt200,000 a year.

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