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Bank of Thailand Could Allow Individuals to Invest in Asian Currency Bonds.
Byline: Parista Yuthamanop
Jul. 4--The Bank of Thailand is studying possible ways to allow individual investors to invest in Asian currency bonds, according to Thirachai Phuvanat-naranubala, a central bank deputy governor.
One option being mulled is through mutual funds specially approved to invest in bonds denominated in Asian currencies.
Mr. Thirachai said that asset-management companies approved to issue such funds would have to maintain stringent management systems to assess credit risks, interest-rate and foreign-exchange risks.
He said the central bank would also consider allowing foreign investment funds to expand their scope and invest in the bonds as well.
Five asset-management companies are currently approved to issue foreign investment funds, with up to US$200 million in capital each, with investments focused on overseas securities.
The central bank tightly restricts local residents from investing in overseas markets as part of capital controls imposed since the 1997-98 Asian financial crisis.
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