KBank hails Covid-defying 9% returns for wealthy investors

KBank Private Banking (KPB) head Jirawat Supornpaibul said on Wednesday they were confident KPB will maintain its leadership in Thailand’s private banking industry through 2021.
“The Covid-19 pandemic sent global stocks into a tailspin early this year before they bounced back. Of late, many bourses including China's A-share, the US and Japanese stock markets have rebounded to their pre-pandemic levels,” he said.
Loosening of monetary policy by the US Federal Reserve plus development of Covid-19 vaccines had driven up global equities late this year, said Jirawat. Joe Biden’s win in the US presidential election also had a positive impact on global equities, as well as easing concern over trade tensions between the US and China next year.
However, he predicted a possible deceleration in equity prices next year, while government bonds would recover at a faster pace after low yields this year.
Jerawat said KBank remained confident in its investment strategy of diversification under the core and satellite investment approach. Recommended funds offering impressive returns include K-GA and K-CCTV which invest in China’s A-Shares, K-CHANGE which focuses on ethical global stocks, and K-HIT which targets four megatrends. 
“Customers who took full options recommended by the US long-term portfolio+aspiration achieved returns of 9.2 per cent in 2020 while those holding lower-risk long-term portfolios achieved only 3.8 per cent,” Jirwat said.
KPB has maintained its 3S investment strategy of Sustainability, Sharing, and S-Curve, he added.
It was also aiming to spread the wealth by organising the “Perfect Wealth Perfect Night Special Concert” as a fundraiser for charities.
“Business operations under KBank Private Banking continued to grow in 2020, with approximately 12,000 customers and assets under management of around Bt800 billion. Total investment assets currently stand at around Bt540 billion, or roughly 67 per cent of the overall figure, Jirawat said.