The Association of Investment Management Companies (AIMC) recommends investors focus on short-term debt investments from the US, China and Thailand as well as large-cap equities in emerging markets to avoid losses from a recession triggered by high inflation and rate hikes.
AIMC chairwoman Chavinda Hanratanakool said the group conducted a survey to collect fund managers' opinions on global economic prospects and factors that may affect investment direction in the next year.
According to Mrs Chavinda, most fund managers predict the global economy will remain stable or grow at a slower rate.
Factors that may hinder economic growth and investment are high inflation and rising interest rates.
For investment strategy, the fund managers emphasise short-term debt instruments from US, China and Thailand and large-cap stocks in emerging markets as they have higher potential for growth amid a recession.
Some of the most attractive industries globally are healthcare, information technology and basic consumer goods, according to the survey.
The fund managers said the Thai economy may recover in the second half this year as they expect the country's reopening and the government's stimulus measures to support a recovery in the tourism industry.
The export sector is also expected to record huge growth because of the weakening baht.
As inflation around the world continues to soar and cause volatility in investment markets, fund managers recommend putting more weight on domestic medium- and large-cap stocks and avoiding fixed income and alternative assets with higher risk of collapse.
For the domestic front, the most attractive segments include healthcare, commercial banks, and tourism and leisure, according to the survey.