BrokerTH
Thai ESG funds share the same headline tax benefit — up to ฿300,000 in annual deductions through 2026 — but their portfolios, fees, and performance track records differ meaningfully. Here’s how the major options stack up in mid-2026.
Structural similarities
All Thai ESG funds must hold at least 80% of NAV in Thai assets meeting ESG criteria — primarily SET ESG-rated stocks, plus sustainable bonds. Same 5-year hold requirement, same tax mechanic, same maximum deduction. Differences are in active management, sector tilts, and cost.
Major providers
SCB Asset Management: SCBTM (Thai ESG) is among the most-held. Top positions include CPALL, AOT, DELTA, ADVANC, SAWAD. About 83% equity. Management fee ~1.0%. Easy access via SCB EASY App.
Bualuang Asset Management: B-TOP-THAIESG concentrates in top 10 ESG-rated Thai companies. Higher concentration, stronger conviction. Management fee ~1.2%.
Krungsri Asset Management: Broader diversification with 30-40 holdings. Stronger mid-cap ESG weighting. Management fee ~1.1%.
K-Asset: K-CHANGE-ThaiESG focuses on sustainability themes — energy transition, sustainable consumption, governance leaders. More thematic positioning.
MFC Asset Management: Balanced approach across sectors, weighted toward defensive ESG names like utilities and telecoms.
Performance comparison
Through 2025-2026, performance has clustered within 3-5% across major Thai ESG funds. Funds with heavier petrochemical exposure outperformed in Q1 2026. Year-on-year through May 2026, top-tier Thai ESG funds returned 18-25%; bottom-tier returned 12-15%.
Fees over 5 years
Management fees range 1.0-1.5% per year. Over 5 years, the difference between 1.0% and 1.5% compounds to roughly 2.5% of total returns. On ฿300,000 invested, that’s ฿7,500 drag — smaller than the tax benefit but worth noting.
Which to actually pick
For most investors: whichever your existing AMC or bank already offers, if not significantly worse on fees. The 5-year lock means convenience matters. If no preference, SCBTM or B-TOP-THAIESG are most popular and accessible.
Remember Thai ESG and Thai ESGX are separate deduction buckets — you can hold both. Most major AMCs offer parallel ESG and ESGX funds. Splitting across two AMCs reduces concentration on any single manager.
