Kasikorn Asset Management (K-Asset), Thailand's largest asset management company, estimates demand in excess of 100 billion baht for investments with periods of longer than one week and higher returns than money market funds.
To meet this demand, K-Asset introduced the K-MPLUS fund yesterday, with an initial public offering period slated for May 27 to June 3.K-MPLUS is designed to invest in deposits as well as debt instruments issued by governments, corporations and financial institutions at home and abroad. The fund has 100% hedging against currency risks.
Chongrak Rattanapian, the executive chairman of K-Asset, said the company expects demand for the new fund to reach 2-3 billion baht initially and then grow to more than 10 billion for the year.
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