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Baht/$ 33.59/61
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GOLD |
14,000
- 200
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INVESTING
NUNTAWUN POLKUAMDEE
Ayudhya Fund Management (AYF) is gearing up to launch a new commodities foreign investment fund expected to offer returns outpacing inflation.
AYF chief executive Chatrapee Tantixalerm said the new fund would invest in four commodities categories: soft commodities, such as rubber, rice and tapioca; hard metals such as steel; energy commodities such as oil and coal; and precious metals such as gold and silver.
''Commodities is one of the most interesting asset classes for the moment, due to price trends and expectations that demand will continue to increase over the next several years,'' he said.
The new FIF will follow a flexible investment policy that will shift holdings across the four commodities classes based on market trends.
Mr Chatrapee said investors should consider the fund as a three-year investment, adding that AYF was also preparing to launch a fund linked with structured notes.
AYF, a unit of Bank of Ayudhya, currently has 52 billion baht in assets under management, down from 55 billion at the end of last year.
Mr Chatrapee attributed the decline to redemptions following the expiration of the company's Euro-commercial paper funds and the volatile markets this year.
''Investors are more wary about market risk. The preference now is towards closed-end capital protection funds or money market funds with three- to six-month periods,'' he said.
According to the Association of Investment Management Companies, total mutual fund assets as of July 25 were 1.46 trillion baht, up 34.26 billion or 2.4% from the end of 2007.
Voravan Tarapoom, the AIMC president and managing director of BBL Asset Management, said the industry's growth this year was still projected at 10%.
She said FIFs, property funds, long-term equity and retirement mutual funds would drive overall growth this year.
According to fund intelligence firm Lipper, Finansa's Global Commodity fund led all funds in returns for the year to July with a 47.7% return, followed by Tisco's Australian bond fund at 18.69%.
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