Following the SEC’s initiative to amend the regulations to include GHB savings certificates as eligible investment assets for funds, namely retail mutual funds (retail MF), accredited investor mutual funds (AI fund) and provident funds (PVD), the SEC conducted a public hearing on the proposed principles during June–July 2026 and a public hearing on the draft notification during August–September 2026. All respondents expressed support for both the proposed principles and the draft notification.

The SEC has therefore issued a related notification*, the key substance of which is the inclusion of GHB savings certificates under the definition of “deposits or deposit-equivalent instruments,” This amendment ensures consistency in the investment criteria applicable to savings certificates issued by SFIs, while providing funds with greater flexibility in managing their investment portfolios. Investments in GHB saving certificates remain subject to all applicable requirements on investment limits, diversification and relevant disclosure.

In this regard, asset management companies remain required to comply with all applicable risk management requirements, such as the single entity limit and group limit, which restrict exposure to any particular issuer or counterparty and to companies within the same business group, in order to mitigate concentration risk and to protect investors’ interests.

The notification takes effect on 16 September 2026.

Note: * Notification of the Capital Market Supervisory Board No. Tor Nor. 11/2569 Re: Investment of Funds (No. 36), together with Appendix 1 attached thereto.