|
|
| • EXCH RATES |
|
Baht/$ 33.49/53
Bid/Ask
|
GOLD |
14,000
- 150
|
|
MUTUAL FUNDS
DARANA CHUDASRI
UOB Asset Management plans to invest at least 10 million baht to promote its UOB Sure Daily fixed-income fund in a push to expand its presence in the retail market.
Singer Pattarapon ''Paul'' Sinlapajan will become the first presenter in UOBAM's 16-year history to promote the company's push among young investors.
Vana Bulbon, the UOBAM chief executive, said the marketing campaign would include radio spots upcountry as well as outdoor advertising along the BTS Skytrain system.
He said the company was reaching out to retail clients ahead of the launch of the new limited bank deposit insurance programme, set to take effect in August.
''The limited insurance programme has helped us decide to move into the retail segment. We want investors thinking of fixed-income funds to think of us first,'' Mr Vana said.
The limited insurance programme will cap state guarantees on bank deposits at one million baht per customer per institution by August 2012. The programme replaces the universal guarantee on deposits in place since the 1997 crisis.
Fund managers say the change in deposit guarantees offers considerable opportunity for growth, as investors would shift out of lower-paying deposits in favour of mutual funds.
Money market funds, which focus on short-term government debt instruments, and longer-term fixed-income funds are expected to be the greatest beneficiaries of fund flows.
''Limited deposit insurance will force depositors to diversify their risk. You can either shift funds to a financial institution with lower risk or expand your investments to other low-risk asset classes, such as fixed-income funds,'' Mr Vana said.
The UOB Sure Daily fund, which invests 100% of its assets in government debt, has an annualised yield of 2.67% over the past three months, outpacing the 2.33% return paid on one-year fixed bank deposits.
Net assets under management by the fund now stand at 25 billion baht, up 12.5 billion from the end of 2007.
Mr Vana said the company hoped to boost the size of the fund to 70 billion baht by the end of the year and take the top ranking among fixed-income funds.
To facilitate the company's retail focus, UOBAM has reduced the minimum investment in the UOB Sure Daily fund to 2,000 baht from 10,000. Transaction size has also been cut to just one baht each from 1,000 baht.
According to the Association of Investment Management Companies, UOBAM had a market share of 4.08% among mutual fund managers at the end of June 20, or ninth in the sector. Assets under management through 50 funds stood at 65.3 billion baht.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Next
