Thailand: Government Pesion Funds picks asset management companies.

(From Thai Press Reports)

Section: Business News - The Government Pension Fund (GPF) on August 28 assigned five asset management firms and Bangkok Bank (BBL) to manage Bt54.6 billion of its total Bt305.78 billion assets, The Nation reports.

BBL, Kasikorn Asset Management, One Asset Management and Tisco Asset Management are retained as fund managers while MFC Asset Management, Aberdeen Asset Management and ING Funds (Thailand) are the newcomers. The contract is for three years.

The GPF has specified a risk frame but will allow the financial institutions to freely manage its assets.

The Bt54.6 billion is split into four categories. The first …