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KBank and Lombard Odier announce sales of three funds worth Bt30 billion in three years

May 03. 2018
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By The Nation

KBank has joined with Lombard Odier (Singapore) Ltd., a fully-owned subsidiary of the Lombard Odier Group, in announcing that it has successfully sold Bt30 billion of three jointly developed funds in three years.

The bank will soon be offering new funds covering high-potential markets while raising the quality of Family Wealth Planning Services for more than 30,800 High-net-worth individuals (HNWIs) in Thailand.

Jirawat Supornpaibul, Head of KBank Private Banking Business Group, reiterated the bank’s commitment to delivering excellent and comprehensive private banking services in Thailand. In 2015, KBank partnered with the Singapore unit of Lombard Odier, a Swiss private bank with 222 years experience in wealth management for global HNWI clients, to upscale its private banking services and deliver personal financial solutions tailored to the need of HNWIs in the kingdom.

Kbank’s portfolio management service follows the risk-based approach, focusing on investment risk management while offering returns that meet customers’ goals throughout their investment terms. The success of the service is reflected in the strong sales of three funds that KBank jointly developed with Lombard Odier, namely K-SGM, K-GREAT and K-APB, reaching US$1 billion or more than Bt30 bil0lion in just three years. 

“The positive feedback shows that our products have met our clients’ needs,” Jirawat told reporters.

He added that KBank and Lombard Odier were now gearing up to develop more services including products to invest in potential markets, equipped with smart investment mechanisms to cater to specific client needs. 

KBank Private Banking Business Group, a pioneer in Family Wealth Planning Services in Thailand, has offered the most comprehensive wealth management services over the past three years by applying Lombard Odier’s experience and valuable knowledge to local needs. The bank’s efforts resulted in recognition from the Euromoney Private Banking Survey 2018 in the category of Best Bank for Succession Planning Advice and Trusts, Thailand. 

To ensure Kbank continues on its successful path, Lombard Odier has developed a training course specifically for KBank private bankers and support teams covering investment management and guidelines. 

It is expected that in 2018, the number of HNWIs or clients with asset under management (AUM) of more Bt50 million in Thailand will reach 30,800. KBank is now serving 10,500 HNWI customers with total AUM of around Bt750 billion, equal to a 34-per-cent market share. KBank expects its investment products to expand by Bt20 billion.

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