The Association of Investment Management Companies (AIMC) has hosted discussions with the Securities and Exchange Commission (SEC) over proposals to allow asset managers to establish funds that invest in digital assets, giving young people an alternative investment option.
AIMC chairwoman Chavinda Hanratanakool stated on Wednesday (Sept 14) that the meeting focused on the legal element of mutual funds in Thailand being incorporated into the country’s digital asset growth.
According to Chavinda, who is also the chief executive officer of Krungthai Asset Management Plc, asset management firms want permission to establish mutual funds that invest directly in digital assets and manage those assets in their portfolio.
Allowing mutual funds to invest in digital assets, according to Chavinda, will encourage young people to invest more through mutual funds and increase their enthusiasm for saving money.
In the meantime, the AIMC stated that it will continue to collaborate with the SEC, the Stock Exchange of Thailand, and the Bank of Thailand, the three entities having the ability to allow digital asset investments and provide them with assistance.
The AIMC stated that it anticipates the discussions with Thai regulators to take considerable time to resolve, with a resolution conceivable sometime in the coming year. (NNT)
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