Thailand’s Government Pension Fund, Bangkok, is planning to double its investments in overseas bonds, Pensions & Investments reports. The $16 billion pension fund intends to increase its holdings in foreign debt securities to 10% of total assets by the end of 2011, up from 5%.
The fund reduced investments in shares of Thai companies from 10% to nearly 9%. Overseas investors, advised by Goldman Sachs and Credit Suisse, pulled out $520 million from Thai shares in the last quarter. The fund has nearly 70% of assets invested in local bonds.
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