Supongvorn Mianpoka, Assistant Managing Director of TISCO Asset Management (TISCO AM), stated that institutional investors have recently been selling Thai stocks amid a shift in investment policy by a major institution, causing portfolio adjustments in equity funds.
Some investors continue to sell the Long-Term Equity Fund (LTF) despite it being officially delisted. Furthermore, investors in provident funds (PVD) have been reallocating investments from Thai stocks to foreign equities, leading institutional investors to adjust their portfolios as well.
TISCO AM, as a Thai institutional investor, is prepared to continuously invest in the Thai stock market, especially after the upcoming general election on February 8, 2026. TISCO AM will wait for clarity regarding the structure and economic stimulus policies of the new government, which is expected to become clearer by April to May 2026.
If everything proceeds positively as institutional investors anticipate, the asset management firm will promptly increase its investment in the Thai equity market.
The selected sectors include e-commerce, tourism, commercial banking, and healthcare. TISCO AM has already rated ‘Overweight’ on these sectors as they have growth potential in line with the economic recovery and strong fundamentals, particularly in terms of high dividend yields. Bank stocks, in particular, offer dividend returns of 6–7%.
Investments remaining in LTFs still amount to THB 100 billion in the system this year. An estimated THB 10 billion is expected to be sold throughout 2026, which is not anticipated to impact the Thai stock market. The Thai stock index is forecasted to be at 1,350 points this year.
At the same time, TISCO AM continues to encourage investment in the Thai stock market, recommending portfolio allocation that emphasizes Thai equities to diversify risk, as return prospects may grow by double-digits over the next three years. This is coupled with a relatively cheap valuation with robust fundamentals.
In addition, the Association of Investment Management Companies (AIMC), in cooperation with the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET), is holding joint discussions to drive the Thai stock market forward, particularly focusing on enhancing corporate governance (CG) to strengthen its potential and restore market confidence.
