Securities of the mutual fund project of Gold Property Fund will commence trading in the Property & Construction Group, Property Development Sector on The Stock Exchange of Thailand (SET) starting from May 22, 2007, onwards.
GOLDPF is managed by Kasikorn Asset Management Co., Ltd., which sold 206 million units of the fund at Bt10.00 from April 18 – 26, 2007. The total fund size is Bt2,060 million.
GOLDPF is a closed-end specific property fund with indefinite project life. Its policy is to invest in properties owned by Golden Land (Mayfair). Its funds are currently used in the operation of the Mayfair Marriott Executive Apartment, a five-star serviced apartment with 162 rooms located in Langsuan, Pathumwan district.
GOLDPF has a policy to pay dividends to unit-holders not more than twice a year. In case the fund generates net profits, the management company will pay no less than 90% of the fund’s annual profits to unit-holders.
Currently Golden Land Property Development PCL (GOLD), which has a 99.99% stake in Golden Land (Mayfair), holds 33% of the total investment units of GOLDPF. GOLD will maintain its portion for a period one year after listing.
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