New BBL Asset CEO tapping tech toward off threat

Peerapong, formerly chief investment officer of BBLAM, said this year’s target was to grow by 10 per cent – from Bt746.7 billion in total assets in 2016 to Bt820 billion.
The company has a 13.5-per-cent share of the mutual-fund market and will shortly start online distribution of its new products as the industry braces for the growth of fintech challenges.
According to Peerapong, BBLAM’s investment decisions are driven by so-called mega-trends, which will likely yield good returns over the next five or more years. These trends include continued urbanisation, the ageing society, digitalisation and middle-class lifestyle and wealth.
A leader in retirement management funds (RMFs) and long-term equity funds (LTFs), the firm is also a key player in promoting environmental protection, good corporate governance, the anti-corruption movement, and sustainable social development in fund management via the BKIND fund.
Other themed funds include BCARE for global healthcare investment and B-Senior for senior citizens (aged 60 and over), whose numbers have reached 16 per cent of the total Thai population.
In addition, the firm’s B-ASEAN Fund represents an investment offensive into fast-growing Asean economies, especially the Philippines, Indonesia, Singapore, Malaysia and Thailand.
Peerapong said the advent of digital and financial technology had helped expand the Thai market for asset-management services, which were now accessible in all 77 provinces.
Voravan Tarapoom, the firm’s executive chairwoman and former CEO, said fintech start-ups posed more threats to the securities-brokering industry than the asset-management sector.
Asset-management firms, however, can take advantage of artificial intelligence and sophisticated software to serve customers better and faster.
Because of the increasing popularity of fintech services, Peerapong said, companies tapped the wider mass market for asset-management services using robo advisers and investment counsellors for portfolio selection and management.
As a result, it is necessary to focus on further investment in human resources and new technology to create growth.
Voravan said BBLAM needed a new generation of leaders with fresh ideas and a high calibre to grow the company.
As of the end of 2016, BBLAM managed a total of 77 mutual funds worth a combined Bt634 billion representing a 13.5-per-cent market share.
In addition, the firm managed Bt96 billion in provident funds and Bt15.6 billion private funds, bringing the total funds under its management to Bt746 billion.