Bangkok, 21 January 2020 – Asset management companies are now welcomed to send documents for setting up the Super Savings Fund (SSF) to SEC for consideration in advance to ensure prompt preparation for sale to investors, SEC announced at the meeting with the Association of Investment Management Companies (AIMC) and senior executives of asset management companies yesterday.
According
to the establishment guidelines, an SSF can be a newly established fund or an
existing mutual fund amended to include SSF investment unit class.
“SEC
expects the regulations on SSF establishment to be published in the Government
Gazette by mid February 2020. After that, SEC will be able to approve SSF
within the same month,” said SEC Secretary-General Ruenvadee Suwanmongkol.
SSF is a new tax-saving fund that will support
the government sector’s policy on promotion of the public’s financial
well-being through long-term savings and investment. Essentially, to be
eligible for the SSF tax exemption, investors may invest in SSF investment
units at an amount not exceeding 30 percent of their annual income and, in any
case, not more than 200,000 baht per year.