. as of DEC 2014) Number of Thai Mutual Funds (n = 1501 as of DEC, 2014) Source: Morningstar Direct (Dec 2014), data complied by Research Department of Thai SEC. Data excludes VAYU-I fund. 2014 2013 No

Service Cash Fitness Direct Commissions Indirect Commissions - Commission to salesperson Incremental costs of obtaining a contract ? - Incentive to employees based on monthly sales target - Special bonus to

, but almost none by 2006. • Fama and French (2010) find that typical actively managed U.S. equity fund earns a negative after-fee alpha. • Lonkani, Satjawathee, and Jegasothy (2013) document that Thai

is this research about? Stock Price? Brooker Group PCL Case Announcement: May 11, 2021 0.5 1.0 Crypto Fever in Thailand Data (Jan 2021-Feb 2022) Group Sample Size Announcement Number of Firms Direct 10

bank deposit and accept lower returns than investing in a typical fixed income fund. ▪ Investors who seek high liquidity. ▪ Investors who prefer low-risk investment. Investors who expect high returns

typically fall under this category.] ▪ Investors who seek returns equivalent to bank deposit and accept lower returns than investing in a typical fixed income fund. ▪ Investors who seek high liquidity

Direct, Data as of 30 October 2015 Background 3 gMarket timing is one of the most popular investment technique Investors around the world have been employing /Unfortunately, average Investors often suffer

would typically fall under this category.] ▪ Investors who seek returns equivalent to bank deposit and accept lower returns than investing in a typical fixed income fund. ▪ Investors who seek liquidity

approval of the listing and trading of spot bitcoin ETFs and solicitations made by some Thai brokerage firms for investors’ direct investment in such ETFs. The Securities and Exchange Commission, Thailand

, Thailand Equity fund Mixed fund Alternative investment fund Country concentration**Foreign investment asset class (TB) **Based on foreign direct investment (unit trust not included) Foreign investment of