MFC to launch 25 new funds to boost AUM by 35%
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New software, ad drive for new clients
MFC Asset Management will launch 25 funds this year to push its assets under management (AUM) up 35 per cent to Bt361 billion.
Prapa Puranachote, president of MFC, said yesterday that these new funds would serve customers’ requirements and assist each customer group in allocating its investment portfolio, besides its flagship funds investing in all kinds of instruments.
Of the 25 funds, 10 are fixed-income funds, three are target funds with a local-investment policy, four are target funds with an overseas-investment policy, three are local equity funds, one is a foreign investment fund, three are property and real-estate investment funds and one is an infrastructure fund.
To achieve this year’s revenue-growth target of 17 per cent to Bt885 million, MFC will focus on satisfying customers through fund performance and rates of return.
The company has bought software for its investment system to help fund managers work more efficiently and has also installed registration systems for unit trading and mutual funds to provide investors faster information and transactions.
The new applications, which can be accessed via the Internet from anywhere at any time, will allow sales staff to receive useful news and information and serve customers more efficiently.
This year the company will strengthen its own MFC brand and expand its new-customer base through media including TV commercials, Skytrain and office-building wraps, and print and online-media ads. Its image will be adjusted to convey modernity and familiarity.
Last year, the company’s AUM rose 3.4 per cent to Bt259.22 billion on the back of the good performances of the Thailand Equity Fund and Tsunami Recovery Fund.
Its provident-fund business in 2011 witnessed 17.6-per-cent growth to Bt85.77 billion, while its private-fund business rose 5.7 per cent to Bt27.34 billion.
Last year, MFC offered 23 funds with combined AUM of Bt14.34 billion. It held 20.81 per cent of the equity-mutual-fund market and led the mixed-mutual-fund market with a share of 26.17 per cent, according to data from the Association of Investment Management Companies as of December 31.
MFC paid out 52 per cent more in dividends for its 38 mutual funds – Bt2.13 billion versus Bt1.4 billion in 2010.
