Thailand’s $38 Billion Fund Says Gold to Counteract Weak Stocks

Thailand’s Government Pension Fund is expecting gains from investments in gold, commodities and private equity to help counter a slump in domestic stocks, following a period that’s seen its performance struggle.

The portfolio will return more than 3% in 2024, up from 1.5% in 2023, said Songpol Chevapanyaroj, secretary-general of the state pension fund. The fund has added holdings of gold and commodities as a bet on inflation and lingering geopolitical conflict, he said.

Songpol Chevapanyaroj

Source: Thailand’s Government Pension Fund

GPF, which manages 1.4 trillion baht ($38 billion), has expanded overseas investments into bonds, stocks and property in a bid to boost performance amid ...