Short-term funds launched
Two fund managers yesterday launched short-term fixed-income funds that were expected to yield a minimum of 3.35 per cent.
Jotika Savanananda, president of SCB Asset Management, said the company’s three short-term funds were worth a combined Bt18 billion and all were expected to return at least 3.35 per cent on an annual basis. The minimum purchase is Bt10,000 per fund.
The 3M17 Fund (SCB Local Fixed Income 3M17) has a three-month maturity and an expected yield of 3.35 per cent. Its policy is to invest 31 per cent of its value in government bonds and the rest in TMB Bank’s short-term debentures, Bank of Ayudhya’s bills of exchange and Thanachart Bank’s B/Es.
The 3M23 Fund (SCB Fixed Income Fund 3M23) has a three-month maturity and is expected to yield 3.40 per cent. It will be invested 38.5 per cent in government bonds, 24.5 per cent in Union National Bank’s deposits and the rest in Ayudhya Capital Auto Lease’s B/Es and Thanachart Bank’s B/Es.
The 6M41 Fund (SCB Fixed Income Fund 6M41) has a six-month maturity and expected yield of 3.45 per cent. About 51.5 per cent will be invested in government bonds, 24.5 per cent in Union National Bank’s deposits, and the rest in the B/Es of Industrial and Commercial Bank of China’s Bangkok branch and euro medium-term notes of Industrial Commercial Bank of China’s Sydney branch.
The three funds are on sale until Monday.
Krung Thai Asset Management is offering a three-month fixed-income fund until November 7 that will invest in deposits and short-term debentures of commercial banks, B/Es of Thai corporations and fixed-deposit products of Union National Bank.
The fund is expected to yield 3.35 per cent.
