Vayupak Mutual Fund Initiative
While the Capital Creation Scheme is aimed chiefly at reviving dead capital
in the rural sector, a complementary new initiative, the Vayupak (named after
a mythical bird that sometimes lays a golden eggbut other legends depict
the avian creature as half-demon ) introduced
late in 2003 is focused on monetizing the dead capital held by the government.
Estimates are that this initiative has the potential
to mobilize an additional several billion $US worth of excess liquidity from
the banking system. In all, it could add US$7-8 billion or an additional 10%
of the market capitalization of Thailand.