FTSE SET INDEX SERIES Data as at: 30 April 2018

Transcription

1 FTSE MONTHLY REPORT - April 218 FTSE SET INDEX SERIES Data as at: 3 April 218 FTSE SET INDEX SERIES INTRODUCTION FTSE Group and the Stock Exchange of Thailand (SET) have jointly created the FTSE SET Index Series to provide investors with a comprehensive series of indices for accessing segments of Thailand s market. The index series adopts FTSE s global index standards such as size, free float weighting and liquidity screening, and provides a familiar tool for performance measurement, product creation and analysis, appealing to both local and international investors. As part of the FTSE SET Index Series the is the flagship index that captures the largest, most liquid companies on the Thai market. The index is also delivered on an intra-second streaming basis, enabling investors to make trading decisions based on intra-second index quotes and respond more rapidly to immediate market events. TABLE OF CONTENTS Introduction & Index Series Overview FTSE SET Mid Cap Index 13 FTSE SET Small Cap Index 15 FTSE SET Mid Small Cap Index 17 FTSE SET Fledgling Index 19 FTSE SET Shariah Index 21 FTSE SET INDEX SERIES COMMENTARY % The ended the month in negative territory in April down.72 per cent, underperforming the FTSE ASEAN 4 Index by 2.3 per cent. 1-Month Performance of the Selected FTSE Indices Straits Time Index (STI) FTSE Bursa Malaysia KLCI FTSE Indonesia Index FTSE Philippines Index FTSE Vietnam Index FTSE ASEAN 4 Index FTSE All-World Index Month THB Performance Singapore was the best performing Asian market this month with the Straits Times Index (STI) seeing a rise of 5.63 per cent in April. The second best performing Asian market was India, with the FTSE India Index, up 5.11 per cent. Vietnam was the worst performer, with the FTSE Vietnam Index falling 8.27 per cent. The FTSE All-World Index was up 2.23 per cent. Within the Thailand market, Shariah companies had the best performance with the FTSE SET Shariah Index up.63 per cent, followed by Mid Cap companies seeing an increase of.41 per cent in April. Small Cap compliant companies were the worst performers. The had a performance of -.49 per cent. Life Insurance was the best performing sector in the FTSE SET All- Share Index, up per cent, followed by Industrial Transportation companies, up 5.72 per cent. The Beverages, and Alternative Energy sectors had the worst performance in April, down and 9.9 per cent, respectively. PTT Exploration & Production had the strongest performance in both the FTSE SET All-Share and FTSE SET Large Cap Index, up 17.3 per cent Month Performance of the FTSE SET Index Series FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap FTSE SET Fledgling Index FTSE SET Shariah Index Month THB Performance FEATURES Objective The indices have been designed for the creation of structured products, index tracking funds, ETFs or as performance benchmarks Universe The index series also contains the FTSE SET Large Cap Index that comprises 3 of the largest, most liquid companies listed on the SET Coverage The indices provide a comprehensive coverage of the major market segments of the Thai market, including size, sectors, and Shariah based indices Design The indices have been designed for both domestic and international investors who want to see global standards applied to the selection and maintenance of companies Investability Index constituents are free-float weighted to ensure that only the investable opportunity set is included within an index Liquidity Companies are liquidity screened to ensure that the indices are tradable (except for the FTSE SET Fledgling Index) Maintenance The indices are governed by an independent committee made up of senior investment professionals to ensure they continue to meet the needs VENDOR CODES Bloomberg FSTHL Reuters <.FTFSTHL> Factset FSTHL.LOC-FTX Telekurs CH Source: FTSE Russell 1 of 22

2 FTSE SET Index Series Data as at: 3 April 218 FTSE SET INDEX SERIES 9% 98% Index Universe Large Cap Mid Cap Small Cap Fledgling Mid Small Cap Industry Indices The following indices are included in the FTSE SET Index Series: All-Share Screens on Business Activity & Financial Ratios This index comprises the largest 3 companies by full market capitalisation that meet stated eligibility requirements. FTSE SET Mid Cap Index This index comprises the companies within the top 9% of the SET Universe by full market capitalisation. They will also need to meet the stated eligibility requirements, but are not constituents of the. FTSE SET Small Cap Index This index comprises the constituents within the top 98% of the SET Universe by full market capitalisation. They will also need to meet the stated eligibility requirements, but are not constituents of the FTSE SET Large Cap Index and the FTSE SET Mid Cap Index. FTSE SET Mid Small Cap Index This index comprises the constituents in the FTSE SET Mid Cap Index and the FTSE SET Small Cap Index. This index comprises the constituents in the, the FTSE SET Mid Cap Index and the FTSE SET Small Cap Index. FTSE SET All-Share Industry Indices There are 1 Industry, 19 Supersector and 39 Sector Indices comprised of the constituents in the FTSE SET All- Share Index. These industries, supersectors and sectors are defined in the Industry Classification Benchmark (ICB). FTSE SET Fledgling Index This index comprises the constituents listed on the SET Universe that are too small to be in the FTSE SET All- Share Index. FTSE SET Shariah Index This index comprises the constituents of the that are Shariah compliant according to the Yasaar screening methodology. Shariah INFORMATION Index Universe Stock Exchange of Thailand Main Board Index Launch FTSE SET Index Series - 24 June 28 FTSE SET Shariah Index - 23 April 29 FTSE SET All-Share Industry Indices - 11 November 21 Base Date 29 February 28 Base Value 1 Index Calculation Real-time and end-of-day indices available. Real-time indices are calculated at the following intervals: - intrasecond streaming basis FTSE SET Shariah Index - every 15 seconds All other FTSE SET Indices - every 6 seconds End-of-Day Distribution Indices available at 21: Bangkok local time (14: hours London time GMT or 15: hours BST) via FTP and Currency USD, EUR, GBP, JPY, THB Real-time calculated in THB only Review Dates Semi-annually in June and December Index Rules Available at Vendor Codes See page 4 or contact info@ftserussell.com Historical Data Available from January 1997 INDUSTRY CLASSIFICATION BENCHMARK (ICB) The indices are calculated in accordance with the Industry Classification Benchmark (ICB), the global standard for industry sector analysis The ICB contains four classification levels: Industries (x1), Supersectors (x19), Sectors (x41) and Subsectors (x114) Global presence - ICB is adopted by stock exchanges representing over 65% of the world s market capitalisation Source: FTSE Russell 2 of 22

3 FTSE SET Index Series Data as at: 3 April 218 INDEX METHODOLOGY OVERVIEW Eligible Securities All classes of ordinary shares in issue are eligible for inclusion in the FTSE SET Index Series, subject to conforming to all other rules of eligibility, free float and liquidity. Index Review The FTSE SET Index Series is reviewed on a semi-annual basis in June and December using data on the Monday four weeks prior to the review effective date. The eligible constituents from the are screened by Yasaar for Shariah-compliance for the FTSE SET Shariah Index on a quarterly basis. The index series semi-annual review will be implemented after the close of business on the third Friday in June and December. New Issues If a new issue is so large (i.e. its full market capitalisation amounts to 2% or more of the, before the adjustment of free float) that the effectiveness of the index as a market indicator would be significantly and adversely affected by its non-inclusion, FTSE will normally include the new issue as a constituent of the FTSE SET Large Cap Index and remaining FTSE SET Indices that it qualifies for after the close of business on the fifth day of official trading. New issues, which do not qualify as early entrants will become eligible for inclusion at the next semi-annual review providing they pass the eligibility screens, and have since the commencement of official non-conditional trading, a minimum trading record of at least 2 trading days prior to the date of the review. Constituent Selection Inclusion Screens A company will be inserted at the periodic review if it rises above the position stated below for the relevant index when the eligible securities for each FTSE SET Index are ranked by full market capitalisation, i.e. before the adjustment of free float: - Risen to 2th or above FTSE SET Mid Cap Index - Risen to 86% or above FTSE SET Small Cap Index - Risen to 97% or above A company will be deleted at the periodic review if it falls below the position stated below for the relevant index when the eligible securities for each FTSE SET Index are ranked by full market capitalisation, i.e. before the adjustment of free float: - Fallen to 41st or below FTSE SET Mid Cap Index - Fallen to 92% or below FTSE SET Small Cap Index - Fallen below 99% A company will be eligible for the providing it is a constituent of either the large, mid, and small cap index. Eligible non-constituents that are ranked below the top 97% of the SET Universe will be included in the FTSE SET Fledgling Index. Further details of the index methodology can be found on The following publications are available by contacting your local FTSE Client Services team or info@ftserussell.com. GROUND RULES FOR THE FTSE SET INDEX SERIES Liquidity Screen The semi-annual liquidity screen is based on a security s median daily trading per month on the SET, with each daily trade total ranked and the middle ranking day selected. Daily totals with zero trades are included. Constituents of the FTSE SET Fledgling Index are not screened for liquidity. Non-constituents must turnover at least.5% of their shares in issue (after the adjustment of free float) based on their median daily trade per month in ten of the twelve months prior to the semi-annual review. An existing constituent must trade at least.4% of its shares in issue (after the adjustment of free float) based on its median daily trade per month for at least eight of the twelve months prior to the semi-annual review. New issues must have a turnover of at least.5% of their free float adjusted shares in each month since their listing. Free Float The FTSE SET Index Series constituents are adjusted for free float and weighted according to how much share capital is available for public investment. This achieves the most accurate and neutral market representation possible: meaning that only shares you can own are included in the index. FTSE has chosen to apply a precise free float methodology rounded to 12 decimal places when determining the eligibility of a stock. Reserve Lists A reserve list of the five highest ranking non-constituents of the is published at the time of the semi-annual review. The Reserve List will be used in the event that one or more constituents are deleted during the period up to the next semi-annual review. FTSE SET Index Advisory Committee The FTSE SET Index Advisory Committee governs the ongoing management of these indices to ensure they continue to meet the needs of index users. The committee is made up of senior investment professionals and finance industry experts acting independently to advise on the creation of new indices, any enhancements to the methodology and to ensure that the index series evolves with any changes in the market environment. Source: FTSE Russell 3 of 22

4 FTSE SET Index Series Data as at: 3 April 218 COMMENTARY IN APRIL Global markets were in positive territory in April, with the FTSE All-World Index up 2.23 per cent. Year-to-date global markets have seen negative performance, down 3.44 per cent. Europe was the best performing region in April finishing the month up 3.9 per cent. Middle East & Africa was the worst performing region, down on the month.5 per cent. Asian markets saw positive performance with the FTSE Asia Pacific Index up 1.48 per cent. Within Asia Singapore was the best performing market in April, with the Straits Times Index (STI) up 5.63 per cent. The had a drop of index points on the month, seeing a negative performance of.72 per cent. The Travel & Leisure sector within the had the best performance up 5.85 per cent, with Electricity sector showing the worst performance down 8.92 per cent. The best performing constituent was PTT Exploration & Production showing a positive return of 17.3 per cent in April. Within the size segments in April mid cap companies were the best performers in the FTSE SET Index Series, up.41 per cent on the month with small cap companies showing the worst performance, down 1.51 per cent on the month. The had a performance of -.49 per cent in April, with PTT Exploration & Production the best performing constituent, up 17.3 per cent. Year to date the FTSE SET Shariah Index has the highest volatility within the FTSE SET Index Series at per cent. The FTSE SET Fledgling Index has the lowest volatility with 6.22 per cent. This compares to a volatility of 7.46 and 6.8 per cent respectively for 217. The FTSE SET All-Share Index had a volatility of 1.38 per cent year to date, higher than 217's 6.84 per cent. As at the end of April, the accounts for 68.1 per cent of the FTSE SET All-Share Index, with the 136 constituents of the FTSE SET Small Cap Index accounting for 5.71 per cent. The top ten constituents of the account for per cent of the index, compared to 23.8 per cent of the FTSE SET Small Cap Index and 48.3 per cent of the FTSE SET All-Share Index. Life Insurance was the best performing sector in the up per cent in April, with Industrial Transportation being the second best performer up 5.72 per cent. Beverages was the worst performing sector followed by Alternative Energy down per cent and 9.9 per cent, respectively. With an index weighting of per cent and 7 constituents, Financials is the largest industry in the, down 1.12 per cent in weighting compared to the previous month. This compares to a weight of per cent in the FTSE SET Mid Cap Index and per cent in the. Within the FTSE SET Shariah Index Financials has 11 constituents, and accounts for 2.71 per cent. VENDOR CODES Index Name FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap Index FTSE SET Fledgling Index FTSE SET Shariah Index FTSE FSTHL FSTHM FSTHS FSTHMS FSTHA FSTHF FSTSH BLOOMBERG FSTHL FSTHM FSTHS FSTHMS FSTHA FSTHF FSTSH REUTERS <.FTFSTHL> <.FTFSTHM> <.FTFSTHS> <.FTFSTHMS> <.FTFSTHA> <.FTFSTHF> <.FTFSTSH> FACTSET FSTHL.LOC-FTX FSTHM-FTX FSTHS-FTX FSTHMS-FTX FSTHA-FTX FSTHF-FTX FSTSH-FTX TELEKURS CH CH CH CH CH CH TK Source: FTSE Russell 4 of 22

5 FTSE SET Index Series Data as at: 3 April 218 INDEX OVERVIEW The comprises the largest companies by full market capitalisation in the. The index is a free float adjusted market-capitalisation weighted index representing the performance of the largest Thai blue chip companies, which pass the size, free float, and liquidity screens. The index represents approximately 7 per cent of the SET Main Board and as at the end of April there were 3 constituents in the index. FTSE SET LARGE CAP INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The ended the month in negative territory in April down.72 per cent, underperforming the FTSE SET All-Share Index by.23 per cent. Year to date the performance is up by 2.77 per cent, with a volatility of per cent, higher than 217 s volatility of 7.51 per cent. Travel & Leisure had the best sector performance in the FTSE SET Large Cap Index in April, up 5.85 per cent. FTSE SET LARGE CAP INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name 1M M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield PERFORMANCE OF THE FTSE SET LARGE CAP INDEX AND SELECTED FTSE ASIA PACIFIC COUNTRY INDICES IN APRIL (THB PRICE RETURN) Rank Index Name Number Net Market Cap 1M Perf Number Net Market Cap 1M Perf Rank Index Name of Cons (THBbn) of Cons (THBbn) 1 Straits Times Index (STI) 3 7, FTSE Bursa Malaysia KLCI 3 4, FTSE India Index , FTSE Philippines Index 25 1, FTSE Korea Index , , FTSE ASFA Australia 2 Index , FTSE Pakistan Index FTSE China 5 Index FTSE China A5 Index 5 25, FTSE Hong Kong Index 92 18, FTSE Indonesia Index 29 3, FTSE Japan Index , FTSE TWSE Taiwan 5 Index 5 17, FTSE New Zealand Index 12 1, FTSE Vietnam Index FTSE SET LARGE CAP INDEX HISTORICAL REVIEW TURNOVER Review Month June 217 December 217 BEFORE REVIEW AFTER REVIEW Number of Adds Number of Dels Number of Cons Net Market Cap (THBm) Number of Cons Net Market Cap (THBm) ,737,416 5,258, ,78,959 5,35,954 Total 2-Way Turnover Note: The majority of index changes occurs at the index reviews in June and December. Review changes to the index may include constitue additions/deletions, shares in issue and free float changes, and changes due to corporate events. Source: FTSE Russell 5 of 22

6 Data as at: 3 April 218 FIVE-YEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN (19.6%) 3 1 (6.25%) (1.96%) 3 (13.68%) 3 (2.79%) 2 (5.45%) 2 (2.91%) 4 (13.49%) 7 (29.26%) Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities 2 (4.63%) Key: 7 Number of Constituents (29.26%) Index Weight RELATIVE PERFORMANCE AGAINST FTSE SET LARGE CAP INDEX (THB PRICE RETURN) 1 MONTH 1 YEAR Basic Materials 4.94 Basic Materials FTSE SET Industry Consumer Goods Consumer Services Financials Health Care Industrials FTSE SET Industry Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas 5.34 Oil & Gas Technology -.14 Technology Telecommunications 3.59 Telecommunications 2.54 Utilities -8.2 Utilities Relative Performance Relative Performance FTSE SET LARGE CAP INDEX HISTORICAL VOLATILITY (THB PRICE RETURN) 3 25 Volatility Index volatility is calculated on a rolling 18 days basis. Source: FTSE Russell 6 of 22

7 Data as at: 3 April 218 FTSE SET LARGE CAP INDEX HISTORICAL VOLATILITY TABLE (THB PRICE RETURN) Index Name YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. FTSE SET LARGE CAP INDEX HISTORICAL SHARPE RATIO (THB PRICE RETURN) Index Name YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. Note: Bangkok 3-Month interbank offered rate (BIBOR) is used as the risk free rate. FTSE SET LARGE CAP INDEX HISTORICAL CORRELATION AGAINST FTSE SET ALL-SHARE INDEX (THB PRICE RETURN) Index Name YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. FTSE SET LARGE CAP INDEX TOP 5 AND BOTTOM 5 SECTOR PERFORMERS TOP BOTTOM ICB Code ICB Sector Number of Cons Net Market Cap (THBm) Index Weight 1M Perf 1Y Perf Div Yield 575 Travel & Leisure 2 21, General Retailers 1 84, Industrial Transportation 1 35, General Industrials 1 6, Oil & Gas Producers 3 1,87, Food Producers 2 161, Health Care Equipment & Services 2 257, Banks 5 1,32, Construction & Materials 1 393, Electricity 3 154, FTSE SET LARGE CAP INDEX 1-YEAR TOP PERFORMING SECTOR - INDUSTRIAL TRANSPORTATION Index Rebased (28 Apr 217=1) PROFILE Number of Constituents: 1 Constituent in Sector: Airports of Thailand Weight in : 5.5% 1-Year Price Return: 77.2% Dividend Yield: 1.21% - Industrial Transportation FTSE SET Industrial Transportation Index Source: FTSE Russell 7 of 22

8 Data as at: 3 April 218 FTSE SET LARGE CAP INDEX TOP 1 CONSTITUENTS Rank Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf 1 PTT PTT Exploration & Production 86, KBANK Kasikornbank Banks 46, CPALL CP ALL Food Retailers & Wholesalers 453, SCC Siam Cement Building Materials & Fixtures 393, BBL Bangkok Bank Banks 362, SCB Siam Commercial Bank PCL Banks 333, AOT Airports of Thailand Transportation Services 35, ADVANC Advanced Info Serv Mobile Telecommunications 232, CPN Central Pattana Real Estate Holding & Development 224, PTTGC PTT Global Chemical Commodity Chemicals 198, Totals 3,771, FTSE SET LARGE CAP INDEX TOP 5 AND BOTTOM 5 PERFORMERS TOP BOTTOM Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf PTTEP PTT Exploration & Production Exploration & Production 184, DTAC BTS Total Access Communication BTS Group Holdings PCL Mobile Telecommunications Travel & Tourism 34,259 67, TRUE TRUE Corp Mobile Telecommunications 8, HMPRO Home Product Center PCL Home Improvement Retailers 84, KBANK Kasikornbank Banks 46, TMB SCB TMB BANK Siam Commercial Bank PCL Banks Banks 5,47 333, BH Bumrungrad Hospital Health Care Providers 62, EA Energy Absolute Conventional Electricity 59, FTSE SET LARGE CAP INDEX TOP PERFORMER IN APRIL - PTT EXPLORATION & PRODUCTION PROFILE PTT Exploration & Production FTSE SET Oil & Gas Producers Index 17.3% 3.71%.72% Month Price Return Local Code: PTTEP ICB Subsector: Exploration & Production Weight in : 3.33% Dividend Yield 2.5% PTT Exploration and Production Public Company Limited explores for crude oil and natural gas, develops fields for production, and produces oil and natural gas. The Company is a subsidiary of the Petroleum Authority of Thailand. It is the top performer of the in April and increased 17.3 per cent. Source: FTSE Russell 8 of 22

9 Data as at: 3 April 218 INDEX OVERVIEW The comprises the constituents in the, the FTSE SET Mid Cap Index, and the FTSE SET Small Cap Index. The index is a free float adjusted market-capitalisation weighted index representing the performance of approximately 98 per cent of the SET Main Board which pass the size, free float, and liquidity screens. As at the end of April there were 263 constituents in the index. FTSE SET ALL-SHARE INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) Within the size segments of the FTSE SET All-Share Index, mid cap companies had the best performance in April with the FTSE SET Mid Cap Index up.41 per cent, followed by large cap companies seeing a decrease of.72 per cent. Small cap companies were the worst performers down 1.51 per cent. The had a performance of.49 per cent. FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Index FTSE SET Fledgling Index FTSE SET Shariah Index FTSE SET ALL-SHARE INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap Index FTSE SET Fledgling Index FTSE SET Shariah Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FIVE-YEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities 4.3 Source: FTSE Russell 9 of 22

10 Data as at: 3 April 218 RELATIVE PERFORMANCE AGAINST FTSE SET ALL-SHARE INDEX (THB PRICE RETURN) 1 MONTH 1 YEAR Large -.23 Large 4.91 FTSE SET Indices Mid Small Mid Small Fledgling FTSE SET Indices Mid Small Mid Small Fledgling Shariah 1.12 Shariah Relative Performance Relative Performance Basic Materials 1.93 Basic Materials 6.85 FTSE SET Industry Consumer Goods Consumer Services Financials Health Care Industrials FTSE SET Industry Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas 4.19 Oil & Gas Technology Technology Telecommunications 3.32 Telecommunications 7.1 Utilities Utilities Relative Performance Relative Performance FTSE SET INDEX SERIES PORTFOLIO CHARACTERISTICS FTSE SET Large Cap Index FTSE SET Mid Cap Index FTSE SET Small FTSE SET Mid Cap Index Small Cap Index FTSE SET All- Share Index FTSE SET Fledgling Index FTSE SET Shariah Index Number of Constituents Full Market Cap (THBm) % Review Turnover -June 217 December 217 Totals Net Market Cap (THBm) Dividend Yield Constituent Sizes (Net Market Cap THBm) Average Largest Smallest Median Weight of Largest Constituent Top 1 Holdings (% Index Market Cap) ,656,23 4,98, ,7 4,991,638 15,647, ,526 6,299, ,55,197 1,898,96 44,559 2,33,466 7,853, , ,7 19,576 86,95 84,389 34,259 2, ,975 9,886 29, ,181 84,389 86,95 3, ,698 15,95 2,255 4,547 5, ,13, ,753 86, , Source: FTSE Russell 1 of 22

11 Data as at: 3 April 218 FTSE SET INDEX SERIES HISTORICAL VOLATILITY (THB PRICE RETURN) 35 Volatility FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap Index FTSE SET Fledgling Index FTSE SET Shariah Index Index volatility is calculated on a rolling 18 days basis. FTSE SET INDEX SERIES HISTORICAL VOLATILITY TABLE (THB PRICE RETURN) Index Name FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap Index FTSE SET Fledgling Index FTSE SET Shariah Index YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. FTSE SET INDEX SERIES HISTORICAL SHARPE RATIO (THB PRICE RETURN) Index Name YTD* 1Y* ** *** 214* 215* 216* 217* FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap Index FTSE SET Fledgling Index FTSE SET Shariah Index * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. Note: Bangkok 3-Month interbank offered rate (BIBOR) is used as the risk free rate. FTSE SET INDEX SERIES HISTORICAL CORRELATION AGAINST FTSE SET ALL-SHARE INDEX (THB PRICE RETURN) Index Name FTSE SET Mid Cap Index FTSE SET Small Cap Index FTSE SET Mid Small Cap Index FTSE SET Fledgling Index FTSE SET Shariah Index YTD * 1Y * ** *** 214 * 215 * 216 * 217 * * Based on annualised daily total log returns. ** Based on annualised weekly total log returns. *** Based on annualised monthly total log returns. Source: FTSE Russell 11 of 22

12 Data as at: 3 April 218 FTSE SET ALL-SHARE INDEX TOP 5 AND BOTTOM 5 SECTOR PERFORMERS BOTTOM TOP BOTTOM TOP Electricity FTSE SET ALL-SHARE INDEX TOP 1 CONSTITUENTS Rank 6 SCB 279 Support Services 6 13, FTSE SET ALL-SHARE INDEX TOP 5 AND BOTTOM 5 PERFORMERS VNT Central Pattana Real Estate Holding & Development 224,692 5, AOT Airports of Thailand Transportation Services 35, ADVANC Advanced Info Serv Mobile Telecommunications 232, CPN 1 PTTGC ICB Code ICB Sector Number of Cons Industrial Transportation 1 419, Personal Goods 5 36, KBANK 3 CPALL CP ALL Food Retailers & Wholesalers 453, SCC Siam Cement Building Materials & Fixtures 393, BBL Bangkok Bank Banks 362,954 Siam Commercial Bank PCL Banks 333, PTT Global Chemical Commodity Chemicals 198, Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf PTTEP PTT Exploration & Production Exploration & Production 184, SUPER Superblock Building Materials & Fixtures 15, SMT Stars Microelectronics (Thailand) PCL Electrical Components & Equipment 1, DTAC Total Access Communication Mobile Telecommunications 34, PSL Precious Shipping Marine Transportation 8, EPCO Eastern Printing Business Support Services 1, Vinythai Specialty Chemicals 5, THCOM Thaicom Telecommunications Equipment , Banks 9 1,482, Alternative Energy Beverages 3 18, Constituent Name ICB Subsector 1 PTT PTT Exploration & Production 86,95 Kasikornbank Totals 3,771, MCS MCS Steel Iron & Steel 2, SCI SCI Electric Conventional Electricity Net Market Cap (THBm) Banks 46, Index Weight Real Estate Investment Trusts 3 22, Travel & Leisure , Local Code Net Market Cap (THBm) Index Weight 1M Perf 1Y Perf Div Yield Life Insurance 1 18, M Perf Source: FTSE Russell 12 of 22

13 FTSE SET Mid Cap Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE SET Mid Cap Index comprises the companies within the top 9% of the SET Universe by full market capitalisation, excluding the constituents of the FTSE SET Large Cap Index. The index is a free float adjusted market-capitalisation weighted index representing the performance of the mid-capitalised companies trading on the SET Main Board, which pass the size, free float, and liquidity screens. As at the end of April there were 97 constituents in the index. FTSE SET MID CAP INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE SET Mid Cap Index ended the month in positive territory in April up.41 per cent, outperforming the FTSE SET All- Share Index by.9 per cent. Year to date the FTSE SET Mid Cap Index performance is down by 5.48 per cent, with a volatility of 11.1 per cent, higher than 217 s volatility of 7.91 per cent. Life Insurance had the best sector performance in the FTSE SET Mid Cap Index in April, up per cent. FTSE SET Mid Cap Index FTSE SET MID CAP INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name FTSE SET Mid Cap Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE SET MID CAP INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (THBm) Number of Cons Net Market Cap (THBm) 2-Way Turnover June ,725, ,834, December ,92, ,933, Total Note: The majority of index changes occurs at the index reviews in June and December. Review changes to the index may include constitue additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVE-YEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities 2.25 Source: FTSE Russell 13 of 22

14 FTSE SET Mid Cap Index Data as at: 3 April 218 FTSE SET MID CAP INDEX TOP 5 AND BOTTOM 5 SECTOR PERFORMERS BOTTOM TOP BOTTOM TOP ICB Code ICB Sector Number of Cons Net Market Cap (THBm) Index Weight 1M Perf 1Y Perf 857 Life Insurance 1 18, Personal Goods 1 27, FTSE SET MID CAP INDEX TOP 1 CONSTITUENTS Rank 867 Real Estate Investment Trusts 1 13, FTSE SET MID CAP INDEX TOP 5 AND BOTTOM 5 PERFORMERS Industrial Transportation 5 1, Household Goods & Home Construction 1 19, Mining 1 84, Technology Hardware & Equipment 4 15, Media 5 68, Food Producers 5 43, AAV BEC BEC World Broadcasting & Entertainment 1, TKN Taokaenoi Food and Marketing Food Products THCOM Constituent Name IRPC TISCO Financial Group Thaicom ICB Subsector 1 BANPU Banpu Coal 84,389 2 DIF Digital Telecommunications Infrastructure FunTelecommunications Equipment Local Code IRPC KTC BLA Exploration & Production Banks , VNT Vinythai Specialty Chemicals 5, Telecommunications Equipment 76,86 71,947 Transportation Services 61,599 6 TCAP Thanachart Capital PCL Banks 48,848 8 KTC 353 Beverages 2 16, BEM 5 TISCO KKP Kiatnakin Bank Banks 47,74 Krungthai Card PCL Consumer Finance 47, , , RATCH Ratchaburi Electricity Generating Holding Conventional Electricity 4, Local Code Constituent Name ICB Subsector SUPER GUNKUL Bangkok Expressway and Metro 9 BTSGIF BTS Rail Mass Transit Growth Infrastructure FTravel & Tourism Superblock Asia Aviation Bangkok Life Assurance PCL Building Materials & Fixtures 59, PSL Precious Shipping Marine Transportation 8, Gunkul Engineering Airlines Electrical Components & Equipment Net Market Cap (THBm) Net Market Cap (THBm) Krungthai Card PCL Consumer Finance 47,73 12, ,82 Index Weight 3.79 Totals 585, Life Insurance 18,712 Div Yield 1M Perf Index Weight 15, M Perf Source: FTSE Russell 14 of 22

15 FTSE SET Small Cap Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE SET Small Cap Index comprises the companies within the top 98% of the SET Universe by full market capitalisation, excluding the constituents of the FTSE SET Large Cap Index and FTSE SET Mid Cap Index. The index is a free float adjusted market-capitalisation weighted index representing the performance of the smallcapitalised companies trading on the SET Main Board, which pass the size, free float, and liquidity screens. As at the end of April there were 136 constituents in the index. FTSE SET SMALL CAP INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE SET Small Cap Index ended the month in negative territory in April down 1.51 per cent, underperforming the FTSE SET All-Share Index by 1.2 per cent. Year to date the FTSE SET Small Cap Index performance is down by 7.8 per cent, with a volatility of 1.21 per cent, higher than 217 s volatility of 9.43 per cent. Forestry & Paper had the best sector performance in the FTSE SET Small Cap Index in April, up 4.35 per cent. FTSE SET Small Cap Index FTSE SET SMALL CAP INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name FTSE SET Small Cap Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE SET SMALL CAP INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (THBm) Number of Cons Net Market Cap (THBm) 2-Way Turnover June , , December , , Total Note: The majority of index changes occurs at the index reviews in June and December. Review changes to the index may include constitue additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVE-YEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 15 of 22

16 FTSE SET Small Cap Index Data as at: 3 April 218 FTSE SET SMALL CAP INDEX TOP 5 AND BOTTOM 5 SECTOR PERFORMERS BOTTOM TOP BOTTOM TOP FTSE SET SMALL CAP INDEX TOP 1 CONSTITUENTS 1 TIP Dhipaya Insura Property & Casualty Insurance 13, ICB Code ICB Sector Number of Cons Net Market Cap (THBm) Index Weight 1M Perf 1Y Perf 353 Beverages 1 1, Media 5 12, Real Estate Investment & Services 13 49, Chemicals 4 16, Personal Goods 4 8, Food & Drug Retailers 1 3, Support Services 6 13, Food Producers 12 26, AH AAPICO Hitech Auto Parts 1, THANI Alternative Energy Rank Local Code Constituent Name ICB Subsector Ratchthani Leasing Specialty Finance 8, SF Siam Future Development PCL Real Estate Holding & Development 8,739 7 GOLD Golden Land Property Development Real Estate Holding & Development 8, ROJNA Rojana Industrial Park PCL Conventional Electricity 1 ASP Asia Plus Group Holdings PCL Investment Services 7, FTSE SET SMALL CAP INDEX TOP 5 AND BOTTOM 5 PERFORMERS Local Code Constituent Name ICB Subsector Net Market Cap (THBm) ERW Erawan Group Hotels 12, COM7 Com7 Specialty Retailers 11, PTL Polyplex Specialty Chemicals 7, Totals 96, Net Market Cap (THBm) Index Weight Index Weight Div Yield 173 Forestry & Paper 1 1, THANI Ratchthani Leasing Specialty Finance 8, SYNEX Synnex (Thailand) Computer Hardware 2, GJS G J Steel Iron & Steel 4, PTL Polyplex Specialty Chemicals 7, THE The Steel Public Iron & Steel 1, IHL Interhides Auto Parts 1, ASAP Synergetic Auto Performance Travel & Tourism 1, EPCO Eastern Printing Business Support Services 1, MCS MCS Steel Iron & Steel 2, SCI SCI Electric Conventional Electricity M Perf , M Perf Source: FTSE Russell 16 of 22

17 FTSE SET Mid Small Cap Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE SET Mid Small Cap Index comprises the constituents in the FTSE SET Mid Cap Index and the FTSE SET Small Cap Index. The index is a free float adjusted market-capitalisation weighted index representing the performance of the mid and small-capitalised companies trading on the SET Main Board, which pass the size, free float, and liquidity screens. As at the end of April there were 233 constituents in the index. FTSE SET MID SMALL CAP INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE SET Mid Small Cap Index ended the month in positive territory in April up.6 per cent, outperforming the FTSE SET All-Share Index by.55 per cent. Year to date the FTSE SET Mid Small Cap Index performance is down by 5.77 per cent, with a volatility of 1.66 per cent, higher than 217 s volatility of 7.88 per cent. Life Insurance had the best sector performance in the FTSE SET Mid Small Cap Index in April, up per cent. FTSE SET Mid Small Cap Index FTSE SET MID SMALL CAP INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name FTSE SET Mid Small Cap Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE SET MID SMALL CAP INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (THBm) Number of Cons Net Market Cap (THBm) 2-Way Turnover June ,116, ,252, December ,344, ,362, Total 25. Note: The majority of index changes occurs at the index reviews in June and December. Review changes to the index may include constitue additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVE-YEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 17 of 22

18 FTSE SET Mid Small Cap Index Data as at: 3 April 218 FTSE SET MID SMALL CAP INDEX TOP 5 AND BOTTOM 5 SECTOR PERFORMERS BOTTOM TOP BOTTOM TOP FTSE SET MID SMALL CAP INDEX TOP 1 CONSTITUENTS 1 BANPU Banpu Coal 84, ICB Code ICB Sector Number of Cons Net Market Cap (THBm) Index Weight 1M Perf 1Y Perf 277 Industrial Transportation 9 114, Personal Goods 5 36, Real Estate Investment Trusts 3 22, Forestry & Paper 1 1, Fixed Line Telecommunications 1 1, Food Producers 17 69, Support Services 6 13, Alternative Energy BEM Bangkok Expressway and Metro Transportation Services 61, TISCO Beverages 3 18, IRPC IRPC Exploration & Production 71, TISCO Financial Group Banks 59, TCAP Thanachart Capital PCL Banks 48,848 7 KKP Kiatnakin Bank Banks 47, KTC Krungthai Card PCL Consumer Finance 9 BTSGIF BTS Rail Mass Transit Growth Infrastructure FTravel & Tourism 46, RATCH Ratchaburi Electricity Generating Holding Conventional Electricity 4, FTSE SET MID SMALL CAP INDEX TOP 5 AND BOTTOM 5 PERFORMERS Div Yield 857 Life Insurance 1 18, Rank Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf DIF Digital Telecommunications Infrastructure FunTelecommunications Equipment 76, Totals 585, Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf KTC Krungthai Card PCL Consumer Finance 47, RML Raimon Land PCL Real Estate Holding & Development 4, SUPER Superblock Building Materials & Fixtures 15, SMT Stars Microelectronics (Thailand) PCL Electrical Components & Equipment 1, PSL Precious Shipping Marine Transportation 8, EPCO Eastern Printing Business Support Services 1, VNT Vinythai Specialty Chemicals 5, THCOM Thaicom Telecommunications Equipment 5, MCS MCS Steel Iron & Steel 2, SCI SCI Electric Conventional Electricity , Source: FTSE Russell 18 of 22

19 FTSE SET Fledgling Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE SET Fledgling Index comprises the constituents listed on the SET Universe that are too small to be in the. The index is a free float adjusted market-capitalisation weighted index representing the performance of companies ranked below the top 97% of the SET Universe. As at the end of April there were 225 constituents in the index. FTSE SET FLEDGLING INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) FTSE SET Fledgling Index The FTSE SET Fledgling Index ended the month in negative territory in April down.82 per cent, underperforming the FTSE SET All-Share Index by.33 per cent. Year to date the FTSE SET Fledgling Index performance is down by 4.25 per cent, with a volatility of 6.22 per cent, higher than 217 s volatility of 6.8 per cent. Alternative Energy had the best sector performance in the FTSE SET Fledgling Index in April, up per cent. FTSE SET FLEDGLING INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name FTSE SET Fledgling Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE SET FLEDGLING INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (THBm) Number of Cons Net Market Cap (THBm) 2-Way Turnover June , , December , , Total Note: The majority of index changes occurs at the index reviews in June and December. Review changes to the index may include constitue additions/deletions, shares in issue and free float changes, and changes due to corporate events. FIVE-YEAR HISTORICAL INDUSTRY BREAKDOWN INDUSTRY BREAKDOWN Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities Source: FTSE Russell 19 of 22

20 FTSE SET Fledgling Index Data as at: 3 April 218 FTSE SET FLEDGLING INDEX TOP 5 AND BOTTOM 5 SECTOR PERFORMERS BOTTOM TOP BOTTOM TOP FTSE SET FLEDGLING INDEX TOP 1 CONSTITUENTS 1 MODERN Modernform Group Furnishings 3, HTC Haad Thip Soft Drinks 2, BRRGIF 6 SRIPANWA Sri panwa Hospitality Real Estate Investment THotel & Lodging REITs 8 AHC ICB Code ICB Sector Number of Cons Net Market Cap (THBm) Index Weight 1M Perf 1Y Perf 58 Alternative Energy 1 1, General Retailers 5 2, Technology Hardware & Equipment 6 2, Leisure Goods Industrial Engineering 14 9, Personal Goods 2 1, Health Care Equipment & Services 7 8, Travel & Leisure 3 1, Buriram Sugar Group Power Plant InfrastructuAlternative Electricity 2,219 Aikchol Hospital Health Care Providers 1 QHHR Quality Houses Hotel & Residence FLPF Hotel & Lodging REITs 2, FTSE SET FLEDGLING INDEX TOP 5 AND BOTTOM 5 PERFORMERS HTECH Halcyon Technology Industrial Machinery Industrial Transportation 3 1, Beverages 2 3, Rank Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf AMATAR Amata Summit Growth Freehold and LeaseholIndustrial & Office REITs 3, TRITN Triton Holding PCL Broadcasting & Entertainment 2, RPH Ratchaphruek Hospital Health Care Providers 2, ,188 2, , HTECH Halcyon Technology Industrial Machinery 2, Totals 24, Local Code Constituent Name ICB Subsector Net Market Cap (THBm) Index Weight 1M Perf SPPT Single Point Parts Computer Hardware DIGI Digital Tech Planet Clothing & Accessories IT IT City Specialty Retailers AMANAH Amanah Leasing Specialty Finance INSURE Indara Insurance Property & Casualty Insurance FANCY Fancy Wood Furnishings WICE WICE Logistics Transportation Services POST Bangkok Post Publishing HTC Haad Thip Soft Drinks 2, Div Yield Source: FTSE Russell 2 of 22

21 FTSE SET Shariah Index Data as at: 3 April 218 INDEX OVERVIEW The FTSE SET Shariah Index comprises the constituents of the that are Shariah compliant according to the Yasaar screening methodology. As at the end of April there were 117 constituents in the index. Yasaar, an independent global Shariah (Islamic Law) consultancy ensures that all constituents and potential constituents of the are screened quarterly to determine their Shariah status. An overview of the Yasaar/FTSE stock screening criteria is listed below. FTSE and Yasaar s screening process is managed in accordance with written guidelines relating to the Shariah. These guidelines have been set by Yasaar s Shariah Board who also monitors compliance. The Shariah guidelines can be grouped into two separate components business activity and financial ratios. Companies involved in the following activities will be considered to be non permitted business sectors: a) Conventional Finance (non-islamic Banking, Finance and Insurance, etc.) b) Alcohol c) Pork related products and non-halal food production, packaging and d) Entertainment (Casinos, Gambling, Cinema, Music, Pornography and Hotels) processing or any other activity related to pork and non-halal food e) Tobacco f) Weapons, arms and defence manufacturing This list is not exhaustive and is provided as a basic guidance to the broad principles involved. After companies have been screened by their business sector activity, the remaining companies are further examined on their finances to ensure that those companies are Shariah compliant. Only those companies that pass the following financial ratios will be considered Shariah complaint: a) Debt is less than 33 per cent of total assets b) Cash and Interest bearing items are less than 33 per cent of total assets c) Accounts receivable and cash are less than 5 per cent of total assets d) Total interest and non compliant activities income should not exceed 5 per cent of total revenue Appropriate purification of dividends at 5 per cent. This ratio calculates the recommended purification amount to be paid by the investor. Constituent changes to the FTSE SET Shariah Index following the screening processes are implemented after the close of business following the third Friday in June and December. FTSE SET SHARIAH INDEX FIVE-YEAR PERFORMANCE (THB PRICE RETURN) PERFORMANCE HIGHLIGHTS Index Rebased (3 Apr 213=1) The FTSE SET Shariah Index ended the month in positive territory in April up.63 per cent, outperforming the FTSE SET All- Share Index by 1.12 per cent. Year to date the FTSE SET Shariah Index performance is up by 6.55 per cent, with a volatility of per cent, higher than 217 s volatility of 7.46 per cent. FTSE SET Shariah Index FTSE SET SHARIAH INDEX HISTORICAL PERFORMANCE TABLE (THB PRICE RETURN) Index Name FTSE SET Shariah Index 1M 3M CUMULATIVE PERFORMANCE 6M YTD 1Y ANNUALISED PERFORMANCE Div Yield FTSE SET SHARIAH INDEX HISTORICAL REVIEW TURNOVER BEFORE REVIEW AFTER REVIEW Review Month Number of Adds Number of Dels Number of Cons Net Market Cap (THBm) Number of Cons Net Market Cap (THBm) 2-Way Turnover June 217 December ,568,433 2,947, ,775,618 2,754, Total 38.4 Note: The majority of index changes occurs at the index reviews in June and December. Review changes to the index may include constituent additions/deletions, shares in issue and free float changes, and changes due to corporate events. Source: FTSE Russell 21 of 22