September 18, 2008
Bangkok - The Social Security Office explained its 40-million-baht loss was only 0.009% of the total overseas investment (4.5%). It already warned overseas fund managers to be careful about their investments.
The SSO totally invested 24,300 million baht in overseas securities.
Surin Jiravisith, SSO secretary general, said Lehman Brothers bankruptcy made the investment value drop by 0.2% or 40 million baht. That accounted for only 0.009% of its total investments.
He already told the six overseas fund managers to be careful about their investments.
4.5% of the SSO’s 535,485-million-baht investment was invested in overseas securities.
The investments were to reduce risk and seek sources of investment to increase the SSO’s revenue.
Its investments were mostly in the overseas government and state enterprise bonds as well as private debentures with not less than BBB credit rating.
The SSO gained about 5% per year of return on investment, but it has not investment in stocks yet.
