Annual Report 2017

130 Annual Report 2017 Available-for-sales : As at 31 December 2017, investments in money market funds represent investments in 8 open-ended funds (2016: 7 open-ended fund). The investment policy emphasises investments in short-term debt securities. As of 31 December 2017, investments in foreign investment funds totalling 82,669 units, amounting to Baht 696.44 million represent investments in a direct investment through Siam Commercial Bank (SCB), which is a custodian to the SET. Euroclear is a custodian bank in foreign countries to invest in US dollars in 3 foreign funds (starting from October 2017). Held-to-maturity debt securities : As at 31 December 2017, no held-to-maturity debt securities (2016: debentures had coupon rates at 4.50% per annum and market yields at 1.83% per annum). Investments managed by private funds Held-to-maturity debt securities: As at 31 December 2017 and 2016 presented savings account and fixed deposit accounts. Trading securities : As at 31 December 2017 investments in private funds are managed by 2 asset management companies (2016: 3 asset management companies). The investment policy for private funds is subject to the SET’s regulations on deposits at financial institutions and investment policies as disclosed in Note 3 - Financial risk management. The Group presented investments managed by private funds as short-term investments. For the year ended 31 December 2017, the return rates for investments managed by private funds ranged from 2.35% - 2.53% per annum (2016: from 0.96% - 1.93% per annum). Movements of short-term investments for the years ended 31 December 2017 and 2016 were as follows: Consolidated SET 2017 2016 2017 2016 Opening balance 10,177,043 6,086,024 10,177,043 6,086,024 Purchases 3,607,599 6,727,979 3,607,599 6,727,979 Disposals (7,160,566) (3,825,321) (7,160,566) (3,825,321) Classification of investments (Note15) - 1,193,260 - 1,193,260 Unrealised gain (loss) on available-for-sale securities 14,900 (4,899) 14,900 (4,899) Reversal of allowance for impairment 10,918 - 10,918 - Closing balance 6,649,894 10,177,043 6,649,894 10,177,043 (Unit: Baht’000)