Committee and/or directors which are different from the : None - 3 - opinions of the Board of Directors This transaction shall be deemed as disposition of assets of the Company. The size of the transaction is

stock market total returns from the Stock 1 Another name for total net assets (TNA) is assets under management (AUM), which is a measure that represents size in the mutual fund industry. 2 There are two

Disposition of Assets B.E. 2547 (2004), as amended from time to time, (the “Notifications on Acquisition and Disposition”), having the largest size of the transaction of 0.19% of the total value of

2 อันดับแรก (category) จากสถาบันจัดอันดับที่ได้รับการยอมรับจากสำนักงาน ทั้งนี้ การลงทุนใน ตราสารดังกล่าวจะต้องไม่เกินร้อยละ 15 ของขนาดของการออก (issue size) (8) ตราสารแห่งหนี้ซึ่งมีผู้แสดงตนต่อบุคคล

next 12 months. Transaction size and type The transaction size is calculated based on the total value of consideration as follow. (License value + Investment budget) x 100 = (42,060mn + 15,000mn) x 100

transaction size, based on the total value of consideration received method, is 2.04% of the total assets of the Company as of 31 December 2019. The transaction size is less than 15% of the total Asset value

of assets 2004, dated 29 October 2004 (as amended) (“The Notification of Acquisition and Disposal of Assets transaction”). The transaction size, based on the total value of consideration received

ทีบ่รษัิทมเีงนิลงทนุกระจกุตวัในกรณีดงันี้ 1. เงนิลงทนุกระจกุตวัเมือ่เทยีบกบั issue size • เมือ่ลงทนุกระจกุตวัในราย issue หรอื mkt. cap จะท าใหเ้งนิลงทนุมสีภาพคลอ่งต า่ • Liquidate ไดย้าก / อาจไดใ้นราคา

return – risk-adjustment [CAPM single factor: market] Alpha = fund return – risk-adjustment [4-factor: market, size, value, momentum] Equity Mutual Funds - Ratanabanchuen & Saengchote © Average returns net

is considered as an acquisition of assets. The transaction size which is calculated by 4 criteria and use the maximum value basis which is the value of assets acquired compared with the value of assets