KAsset plans fund for Asean stocks
Kasikorn Asset Management (KAsset) plans to introduce a mutual fund investing in Asean stocks in the last quarter of this year, as part of its goal to become a leading investment firm within Asean.
The fund will be called K-AEC, said Pongpichet Nananukool, KAsset managing director.
He added that the company's fund managers and investment analysts are ready to capitalise on their expertise and experience in global investment to enable KAsset to become a lead regional player through direct investment within Asean amid the imminent ASEAN Economic Community towards the end of this year.
KAsset began related preparations in early 2014 by forming work teams to meticulously study stock market conditions and analyze over 150 stocks of four major Asean countries, namely Indonesia, Malaysia, Vietnam and the Philippines.
“Apart from answering various investor needs, the firm aims to offer a raft of investment products both in asset types and geographic regions, as well as to branch out into other sectors and several index funds, which will invest in specific countries or in certain industrial sectors," he added.
KAsset is the largest fund company in Thailand, with the net asset value of assets under management reaching Bt1.1 trillion at the end of June or 20.6 per cent of the entire industry.
It also secured contracts to manage 15.5 per cent of all provident funds in the country.
