Driving Factors:

1. The Thai stock market has declined to a multi-year low, underperforming regional peers, reflecting a confidence crisis in the economy and listed companies. However, despite the continuous decline in the SET Index, high-dividend stocks within the SETHD (SET High Dividend) group have significantly outperformed the broader market. As of June 30, 2025, the SET Index had fallen by -28.9% (a 1-year low), while the SET HD group declined by only -18.6%.
2. Furthermore, the SET HD group demonstrates strong profitability, comprising financially robust large-cap stocks. Their estimated 12-month forward earnings stand at 106.58 Baht/share, compared to the SET Index at 91.33 Baht/share.
3. A key highlight of SETHD is its high dividend yield of 5.89% (as of June 30, 2025), significantly surpassing the broader market's 4.66%. In an environment of market uncertainty, investing in high-dividend stocks like those in SETHD presents an appealing option for investors seeking stable income streams coupled with future growth potential.

Fund Policy

• Invests in equity securities listed on the Stock Exchange of Thailand or Mai which has a solid history of paying dividends regularly and projected to continue paying good dividends in the future. Such investments will average at least 80% of NAV during the financial year, with the criteria for consideration as follows: 1) Has a high history of paying dividends in the past (approximately 1-3 years ago) or 2) Has a good trend and forecast of future dividend payments.

1. Active Fund