Thailand's central bank governor Prasarn Trairatvorakul yesterday ruled out the possibility of a sovereign wealth fund any time soon, saying there was a lack of instruments to manage risks.
"We have diversified our investment portfolio within the risk management framework," he said. "There is no initiative to establish any kind of a fund at the moment."
Earlier, Pongpen Ruengvirayudh, the deputy governor overseeing monetary stability, said the bank was studying a plan to use its surplus foreign reserves to establish what would be called a "New Opportunity Fund", aimed at increasing returns as a part of efforts to improve its balance sheet. Such a sovereign wealth fund would be managed by a separate organisation or the central bank.