If you’re wondering why the market rebounded strongly yesterday, one potential answer is that the Thai Government Pension Fund, which manages THB 1.2 trn in assets, wants to shift more weightings towards equities amid this market volatility, here are a few snippets plus the link to the full article.

• Thailand’s biggest government-pension fund is seeking approval to reduce sovereign debt holdings as it buys local shares amid falling valuations.
• The fund, which had about 77% of assets in local government bonds as of Sept 30, is asking its board to approve a greater shift toward equity and alternative assets, said Win Phromphaet, the SSO’s head of investments
• SSO’s Mr Win says he’s also being selective amid increased volatility. He has an underweight position in banks on concern they’ll be impacted by slower economic growth, and in energy shares on the drag from lower oil prices.
• The fund has overweight holdings on commerce, telecommunication and health-care companies as they’re less affected by energy prices and slower global growth.
  

Source: Bangkok Post