Thong Come flouts gold investment scheme

Thong Come Asset Management (TC) is launching a gold-saving programme targeting new investors looking to invest using dollar-cost averaging (DCA).

Krisana Wisessintu (second from right), managing director of TC, and Chrisana Leiw (second left), executive director of CNS, pose with models at the programme’s launch yesterday.

The method involves investing a fixed amount regularly regardless of market conditions. The wisdom behind the method is the investor will achieve a better average cost than trying to time the market.

Krisana Wisessintu, managing director of TC, said the campaign aims to build its asset size to 100 million baht.

The programme allows investors to invest in TC Gold Bullion Fund (TC-GB), an open-ended fund it launched last year.

Gold is suitable for new investors who want to invest in a commodity throughout the year with small fixed payments, she said.

The target group is university students, doctors, housewives, and salaried employees.

The programme lets investors buy 96.5% gold with a minimum payment of 100 baht through commercial banks, Capital Nomura Securities (CNS) branches, or CNS' iFund internet brokerage.

TMB Bank is the trustee and the gold bullion will be kept at Brink's Thailand Ltd.

Mrs Krisana said TC chose this method because it lacks distribution channels and a network. The firm was founded by 10 retail gold traders two years ago.

"We don't have a bank's network, so reaching investors can be difficult," she said.

TC's assets number 17 million baht.

Chrisana Leiw, executive director at CNS, forecast the price of gold will move in a range from US$1,500 to $1,900 per ounce this year.

"The gold price will rise for months ahead of numerous monetary policy changes in large economies, which will weaken the dollar and push up gold prices," said Ms Chrisana.

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Writer: Nuntawun Polkuamdee
Position: Business Reporter