Annual Report 2017

190 Annual Report 2017 Thai Trust Fund Management Co., Ltd. Thai Trust Fund Management Co., Ltd. (TTF) was established on December 17, 1996 by The Stock Exchange of Thailand (SET) to promote foreign investment in the Thai capital market by providing foreigners with another channel for investing in Thai listed shares through mutual funds. Operations TTF was licensed by the Securities and Exchange Commission (SEC) and is managed by SET and Thailand Securities Depository Co., Ltd. (TSD). TTF is a passive management arrangement. When an investor places a bid through a broker, TTF will place a corresponding order to buy the underlying shares and then will issue units to the investor. The TTF will not exercise its voting rights except on motions to delist the underlying shares from SET. The main function of TTF is to look after the financial benefits of unit holders on dividends and right issues. TTF functions as an open-ended fund, and invests in shares of any listed company. The mutual funds are considered to be Thai juristic entities even though foreigners own all of the fund’s units. Registered capital andorganizationalmanagement TTF had a total registered capital of THB 100 million with SET holding 100 percent of the total. Supervisor of the Mutual Fund Thai Military Bank pcl Board of Directors 1. Kesara Manchusree Chairman 2. Pataravasee Suvarnsorn Member 3. Santi Kiranand Member 4. Yupawan Sirichainarumitr Member