Thailand to allow funds to buy 'exotic' financial securities
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THAILAND'S regulator plans to allow mutual funds to invest in riskier securities and attract funds from wealthy citizens investing abroad as they seek higher returns.
The Securities & Exchange Commission (SEC) will relax rules that forbid purchases of "exotic financial securities" such as junk bonds and other high-yielding assets, secretary general Rapee Sucharitakul said. The agency will also allow hedge funds and leveraged unit trusts to tap funds in the local market, he said.
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