Category

Foreign Investment Fund

Investment Policy

The Fund has a policy to invest in or hold units of foreign collective investment schemes, including Collective Investment Schemes (CIS) and/or foreign Exchange-Traded Funds (ETFs) that invest in equity securities (the “Underlying Funds”). The Fund will maintain an average net equity exposure of not less than 80% of its Net Asset Value (NAV) during an accounting period.
The Fund will invest in at least two underlying funds, with aggregate investments averaging not less than 80% of the Fund’s NAV during an accounting period. The underlying funds invest in equities of:

Digital Assets Companies; and/or
Companies engaged in and/or associated with the digital asset ecosystem; and/or
Companies utilizing blockchain technology to reduce costs, enhance operational efficiency, or otherwise benefit from blockchain-related innovations.

Investment in any single underlying fund shall not exceed 79% of the Fund’s NAV, on average during an accounting period.
The Fund will invest overseas, resulting in an average net foreign exposure of not less than 80% of its Net Asset Value (NAV) during an accounting period, or such percentage as may be prescribed by the Office of the Securities and Exchange Commission (SEC). The allocation among foreign mutual funds and/or foreign ETFs will be determined at the discretion of the Fund Manager, who may adjust investment weightings in accordance with prevailing market conditions and investment outlooks.
Indirect Exposure to Digital Assets
The Fund may obtain indirect exposure to Digital Assets, specifically Crypto Assets, through investments in foreign mutual funds and/or foreign ETFs that are legally authorized or approved to purchase, sell, or exchange such assets in the jurisdictions in which they are invested.
The Fund’s aggregate crypto asset exposure shall not exceed 5% of the Fund’s NAV.
The underlying foreign mutual funds and/or foreign ETFs may invest in cryptocurrencies and other crypto assets, including but not limited to:

Bitcoin (BTC);
Ether (ETH); and/or
Other eligible crypto assets.

Any fees and expenses associated with investments in crypto assets shall be borne indirectly through the fees and charges imposed by the underlying foreign mutual funds and/or foreign ETFs in which the Fund invests.
Investment of Remaining Assets
The remaining portion of the Fund’s assets may be invested in Thailand and/or overseas in:

Deposit-like instruments and deposits;
Fixed-income securities;
Equity securities;
Hybrid securities;
Warrants;
Securities and/or other assets; and
Other investments or income-generating arrangements as specified in the Fund Prospectus and permitted by the SEC or other relevant regulatory authorities.

Foreign Exchange Risk Hedging
The Fund may enter into derivatives transactions for the purpose of hedging foreign exchange risk (Foreign Exchange Rate Risk) at the discretion of the Fund Manager.
In determining the extent of foreign exchange hedging, the Fund Manager will consider prevailing financial market conditions and relevant economic, political, monetary, and fiscal factors in assessing expected currency movements.
For example:

If the U.S. Dollar (USD) is expected to depreciate, the Fund Manager may maintain a relatively high level of foreign exchange hedging.
If the USD is expected to appreciate, the Fund Manager may reduce the hedging ratio or elect not to hedge its foreign currency exposure.

However, if the Fund Manager determines that foreign exchange hedging may not be in the best interests of unitholders or may reduce potential benefits available to unitholders, the Fund may remain partially or fully unhedged. Investors should note that hedging transactions involve costs, which may adversely affect the Fund’s overall returns.
Derivatives for Efficient Portfolio Management
The Fund may also utilize derivatives for:

Efficient Portfolio Management (EPM); and/or
Hedging purposes,

with foreign exchange rates serving as the underlying reference asset.
Such transactions may be undertaken to enhance investment returns, reduce Fund expenses, or for other purposes permitted by applicable SEC regulations.
The derivative contracts entered into by the Fund will primarily reference foreign exchange rates. Should any event adversely affect such contracts, or should a counterparty fail to perform its obligations, the Fund may not achieve its expected returns and could incur losses. Accordingly, the Management Company will continuously monitor factors affecting the underlying assets and assess counterparties’ creditworthiness before and after entering into such transactions. The Fund will primarily transact with counterparties holding Investment Grade credit ratings.
Investments in Affiliated Funds
The Fund may invest up to 20% of its NAV in mutual funds managed by the same Management Company, provided that such investments comply with the Fund’s investment policy and SEC regulations.
Such investments must not result in circular investments (circle investment), and an underlying fund may further invest in another fund managed by the same asset management company for no more than one additional layer.
Voting rights relating to investments in affiliated funds shall be exercised in accordance with SEC regulations. The investing fund may not vote on behalf of the underlying fund. However, where the underlying fund is unable to obtain the required resolution due to such voting restrictions, the Management Company may seek approval from the SEC, provided that more than one-half of the remaining unitholders of the underlying fund have approved the relevant matter.
Other Permitted Investments
The Fund may also invest in or hold:

Structured Notes;
Non-Investment Grade debt securities;
Unrated debt securities; and
Unlisted Securities.

In addition, the Fund may engage in:

Securities Lending Transactions;
Reverse Repurchase Agreements (Reverse Repo);
Other securities lending arrangements; and/or
Other assets, securities, or income-generating investments as specified in the Fund Prospectus and permitted by applicable SEC regulations.

Dividend Policy

Yes

Benchmark

Registration date

21 June 2024

Fund Manager Name

Pornphen Chuleeprasert
Viriya Phokaisawan