The Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) plans to grow in the second half of the year dependent on market demand and stock market regulations.
Potential assets on the list include a Tesco Lotus branch in the Nava Nakorn area of Pathum Thani and other stores.
Sompong Rungnirattisai, the property director at Tesco Lotus, said the firm plans to grow the fund but needs to study market conditions and new REIT regulations.
Tesco Lotus has more than 100 hypermarkets, with half having the potential to be added to the TLGF.
Somchai Boonnamsiri, the chief executive of Krung Thai Asset Management, said KTAM is considering whether to add more assets to the fund directly or put them separately into a new fund to comply with real estate investment trust (REIT) regulations, some details of which remain unclear.
"Nobody is interested in being REIT trustees. If Tesco Lotus has to set up an REIT, we will consider applying for a trustee licence," he said.
The TLGF achieved first-quarter revenue of 1.79 billion baht for a net profit of 1.24 billion.
The fund will pay a dividend for last year's fourth-quarter performance of 18.01 satang per unit on May 20.
It will return cash of 2.09 satang a unit from the capital reduction on May 21, bringing total earnings for the year to 69 satang a unit.
"The positive financial performance is a result of the very high occupancy rate of almost 100% at Tesco Lotus shopping malls listed in the TLGF," said Mr Sompong.
The TLGF invested in 22 Tesco Lotus hypermarket-anchored malls in prime locations including Bangkok, major cities and tourist destinations.
It is the largest property fund in Thailand with a market capitalisation of more than 35 billion baht.
Mr Somchai said KTAM also plans to launch a 12-billion-baht infrastructure fund in the second half to invest in a small power plant.