Category
Foreign Investment Fund
Investment Policy
The Fund has a policy to invest in units of foreign mutual funds, including CIS units and/or foreign Exchange-Traded Funds (ETFs) that invest in equities (the “Underlying Funds”). The Fund will maintain an average net exposure to equities 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 and allocate, on average, no less than 80% of its NAV during an accounting period to such underlying funds. These underlying funds invest in equities of companies engaged in, or benefiting from, the Defense Technology (“Defense Tech”) sector, including businesses involved in the development of technologies, services, systems, and hardware related to defense and military operations. The Fund will not invest more than 79% of its NAV, on average during an accounting period, in any single underlying fund.
The Fund will primarily invest overseas and maintain an average net foreign exposure of at least 80% of NAV during an accounting period, or such percentage as prescribed by the Securities and Exchange Commission (SEC). Allocation among foreign mutual funds and/or foreign ETFs will be at the discretion of the Fund Manager, who may adjust investment proportions based on prevailing market conditions and investment outlooks.
Additional Investments
For the remaining portion of the portfolio, the Fund may invest in leveraged or inverse ETFs, both domestic and foreign, as part of portfolio management. The Fund may also invest in:
Deposits and deposit-like instruments
Fixed-income securities
Equities
Hybrid securities
Warrants
Other securities, assets, or income-generating instruments as permitted under the Fund’s prospectus and SEC regulations
Foreign Exchange Risk Management
The Fund may enter into derivatives transactions for foreign exchange hedging purposes at the Fund Manager’s discretion.
In determining the extent of currency hedging, the Fund Manager will consider financial market conditions and relevant economic, political, monetary, and fiscal factors. For example:
If the U.S. Dollar (USD) is expected to depreciate, the Fund may hedge a significant portion of its currency exposure.
If the USD is expected to appreciate, the Fund may hedge only partially or may choose not to hedge at all.
The Fund Manager may elect not to hedge currency risk if such hedging is deemed not to be in the best interest of unitholders. Investors should note that hedging transactions may incur costs, which could negatively affect the Fund’s overall returns.
Derivatives for Efficient Portfolio Management
The Fund may also use derivatives for:
Efficient Portfolio Management (EPM)
Hedging purposes
where the underlying reference asset is foreign exchange rates. Such transactions may be used to enhance returns, reduce portfolio costs, or for other purposes permitted by the SEC.
Derivative contracts entered into by the Fund will primarily reference exchange rates. Adverse events affecting the contract or counterparty default risk may prevent the Fund from achieving expected returns or may result in losses. To mitigate these risks, the Management Company will continuously monitor relevant market factors and transact mainly with counterparties rated Investment Grade.
Related-Party Fund Investments
The Fund may invest up to 20% of NAV in mutual funds managed by the same asset management company, subject to SEC rules and the Fund’s investment mandate. Such investments must not result in circular investments, and an underlying fund may invest in another fund under the same management company only one level further.
Voting rights relating to investments in affiliated funds shall comply with SEC regulations. The master fund is prohibited from voting on behalf of the underlying fund.
Higher-Risk Instruments
The Fund may also invest in:
Structured Notes
Non-Investment Grade debt securities
Unrated debt securities
Unlisted securities
In addition, the Fund may engage in:
Securities lending transactions
Reverse repurchase agreements (Reverse Repo)
Other assets or investment arrangements permitted by applicable regulations
Future Change in Fund Structure
The Management Company reserves the right to change the Fund’s structure in the future, including conversion into:
A Feeder Fund; or
A fund investing directly in securities,
and may subsequently revert to a Fund of Funds structure, provided such changes do not increase the Fund’s risk spectrum.
Any such restructuring will be undertaken at the Fund Manager’s discretion, based on market conditions and in the best interests of unitholders. The Management Company will provide at least 30 days’ prior notice via its website and the websites of distributors or selling agents (if any) before implementing such changes.
Dividend Policy
None
Benchmark
Global X Defense Tech ETF – 70% weightingEurope Aerospace & Defense ETF – 15% weighting
Korea Defense ETF – 15% weighting
The performance of each benchmark component will be adjusted as follows:
80% of the return will be adjusted for the cost of foreign exchange (FX) hedging; and
20% of the return will be adjusted using the prevailing exchange rate for conversion into Thai Baht (THB),
as of the date on which the benchmark return is calculated.
Registration date
9 March 2026
Fund Manager Name
Ponlasin Kijmuntarvorn
Pornphen Chuleeprasert
Related Documents
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