& Imperatore, 2014) Managers’ risk preference (Sutton, 1988) Meet or beat the expectations of financial analysts (Zang, 2012; Matsumoto, 2002) Stock –financed acquisitions (Cohen & Zarowin, 2010) Political

Mutual Funds - Ratanabanchuen & Saengchote © Four Stylized Facts about Open-Ended Equity Mutual Funds in Thailand 1. Most funds do not beat the market, whether it is raw or risk-adjusted returns. 2. Most

ease this pressure, and with the upward trend in prices, we will continue to expect healthy margins.” 2. Outlook Overall Thai economic activity in the first quarter of 2018 beat expectations with an

and up 47% for LTM 2Q17  Core EPS up 30% in 2Q17 and up 83% for LTM 2Q17 Management is also pleased to note that 3Q17 is on track to beat year-on-year (YoY) and sequentially (QoQ) in favorable market

fund managers have negative selectivity and timing abilities. 10 Around one-third of Thai equity trigger funds beat the market. 11 -30% -20% -10% 0% 10% 20% 30% 0 6 12 18 24 30 36 Continuing (N = 66

changing the Company’s seal, and still using the ticker of “EASON” 6.2 The change of Company’s Memorandum of association 1) Amend clause 1 (Company’s name) to be consistent with the change of the Company’s

*( & '%*-#H $ TCR /* /%&#$$$ * %B`+'* &#&& #% A(* * ". * VEMEX Description Ticker Market ISIN CODE CUSIP CODE Ishares MSCI Pacific ex Japan Index Fund EPP AMEX US4642866655 464286665 Telefonaktiebolaget

are tax-privileged, we document several interesting facts. 2 First, most open-ended equity mutual funds in Thailand do not beat the market, whether it is raw or risk-adjusted returns. Second, while 94

or recommended for the portfolio. It should not be assumed that an investment in these securities or sectors was or will be profitable. Issuer name Consumer Products – Nutrition Country China Ticker

ticker, “AH”, and/or its subsidiaries. Target company Sakthi Global Auto Holdings Limited (“SGAH”) Relationship between the investor and the target company: SGAH is not considered a connected person of the