3 short-term fixed-income funds go on sale
Three short-term fixed-income funds will be on sale for the first |part of this month, to lock in the interest rate following the cut in the Bank of Thailand's policy rate last week.
Thanachart Asset Management Co began selling its Fixed Income |8 Fund yesterday, the sale conti-nuing through Monday. during Feb 1-6. The fund will be invested in local and overseas corporate bonds and/or foreign deposits for six months, with estimated return of 3.2 per cent per annum.
From today until Feb 6 Monday, Tisco Asset Management Co is offering the Tisco Fixed Income Plus Fund. The six-month, Bt1-billion fund will invest in local and foreign bonds and/or other financial papers. Overseas investment will be fully hedged against foreign-exchange risks. Minimum investment is Bt20,000.
Theeranat Rujimethapass, managing director of Tisco, said the fund was ideal for investors looking for short-term gains and higher returns than deposit rates.
The group estimates that the policy rate will stay at 3 per cent for some time and will move in line with post-flood recovery.
During Feb 2-7, From today through next Tuesday, Krungthai Asset Management will offer the Krungthai Thanasup B27 Fund.
The six-month fund will invest 25 per cent in deposits, commercial banks’ short-term papers and |bills of exchange and the rest in oveseas papers and deposits, with estimated return of 3.40 per cent per annum.
KTAM managing director Somchai Boonnamsiri noted that |it was widely believed that the |policy rate would stay at 3 per cent until the latter half of this year, pending clarity in domestic economic recovery, the euro-zone crisis and Asian countries’ economic performance.
He added that as the euro strengthens against the US dollar, investors would show a higher appetite for risk assets that push up dollar premiums.
This is likely to boost returns from foreign investment.
