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Management Discussion and Analysis

Company name                             : THAILAND FUTURE FUND
Year                                     : 2023
Quarter                                  : Yearly
Ending                                   : 30-Sep-2023
Note                                     :
AM.TFF 021/2023
					                                    November 29, 2023
To:	President
The Stock Exchange of Thailand

Re:	Clarification of the change in net assets resulting from operations in 
excess 20% of the year ended as of 30 September 2023 of Thailand Future Fund

Krungthai Asset Management Public Company Limited and MFC Asset Management 
Public Company Limited, as the fund manager of Thailand Future Fund ("The
Fund"), would like to clarify the change of net assets resulting from operations
for year end period as of 30 September 2023 which increased in excess of 20%
comparing to the same period of 2022 as follow:

Regarding to the Fund performance of the year ended 30 September 2023, the Fund 
has increased in net assets resulting from operations in the amount of 9,458.56
million baht which increased by 7,607.15 million baht or 410.88% from the same
period of the previous year that the Fund has increased in net assets resulting
from operations 1,851.41 million baht. This was mainly due to the Fund has gains
on change in fair value of investments in amount of 7,571,48 million baht which
increased by 7,399.39 million baht from the same period of the previous year
that the fund has gains on change in fair value of investments in amount of
172.08 million baht. As a result, the net increase in assets resulting from
operations for the year ended September 30, 2023 has increased in excess 20
percent comparing to the same period of previous year.

                                                            Your Sincerely,


            (Mr. Piraj Migasena)                                                
     (Ms.Hatairat Chinvetchakitvanit)	
Executive Vice President			              Senior Property Fund Manager
Krung Thai Asset Management Public Company Limited      MFC Asset Management 
Public Company Limited
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