Krungthai Asset Management (KTAM) aims for 20% growth in assets under management (AUM) this year and plans to launch at least 10 new mutual funds to broaden investment choices and provide better asset allocation.
Given that mutual funds were the biggest contributor to the company's AUM growth, KTAM will launch at least 10 mutual funds in both domestic and overseas markets to allow investors to diversify assets for better returns, said chief executive Chavinda Hanratanakool.
KTAM, the country's third-largest investment management company by AUM, saw its AUM jump by 22% last year, above the industry average of 15%, to 750 billion baht.
Mutual funds' AUM surged by 33% or 108.3 billion baht compared with the industry's AUM growth of 16.4%, and short-term bond funds were the main growth driver.
KTAM's private funds grew by 11.7 billion baht in 2016 and its provident fund grew by 6.6 billion.
The company will launch a Cambodia, Laos, Myanmar and Vietnam fund and China funds this quarter.
Ms Chavinda said China is a major target of foreign investment this year as the world's second-largest economy is expected to grow strongly because of government economic stimulus through expansionary fiscal policy and megaproject investments.
China's robust domestic consumption and its rising middle class are a buffer from potential risks incurred from any US protectionism, she said.
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