AUM of the equity funds increased nearly three folds from approximately 99 billion Baht in 2006 to 261 billion Baht in 2010. Unlike developed capital markets, proportion of equity funds to total asset under management of the industry in Thailand is stable around 11% and 15% in 2006 and 2010. Higher value of asset under management of equity funds can be decomposed into two factors, which are valuation and new flow factors. As Thai stock market index (SET) had increased from the vicinity of 700 points in 2006 to the level of 1,000 points in 2010, higher value in equity.
