SCB Asset Management (SCBAM) aims to increase its assets under management (AUM) by 200 billion baht to reach 2 trillion this year by focusing on bond funds that are expected to retain high interest rates.
The company is also eager to launch retail spot Bitcoin exchange-traded funds (ETFs) when they are approved for trade.
As of December 2023, SCBAM had AUM of more than 1.8 trillion baht, representing a market share of 21%, said chief executive Narongsak Plodmechai.
Of the total AUM, more than 960 billion baht are in mutual funds, 650 billion in private funds, and 200 billion are in provident funds, according to the Association of Investment Management Companies.
The company expects another 100 billion baht from mutual funds this year and 100 billion from private funds, he said.
"We think this year bond funds will provide an attractive return on investment. Even though interest rates are likely to decrease, they will remain high for the next 2-3 years," said Mr Narongsak.
SCBAM focuses on investing in the domestic bond market, accounting for roughly 70% of the total, with 30% invested in global bonds.
The bond investments will mainly be in debt instruments with maturities of one year or more, with the return from short-term bonds expected to reach around 2%, he said.
SCBAM's AUM grew 8% last year, triple the industry rate.
The company's investor base rose by more than 40% from 2022 through investment platforms targeting younger investors, offering free purchases and low management fees for all asset classes worldwide.
This new investment group totals 200,000 of the company's 600,000 to 700,0000 total investors, Mr Narongsak said.
With the Thai stock market outlook unattractive without clear signs of an economic recovery amid stricter investment rules and regulations, he said stocks in developed markets are more appealing.
SCBAM is interested in launching spot Bitcoin ETFs for retail investors.
The idea is in the planning stages as the Securities and Exchange Commission has ruled out retail spot Bitcoin investment via mutual funds for now.
The company is following sustainable business practices, aiming to be the most trusted innovation organisation in the region, said Mr Narongsak.
"We prioritise developing the organisation to become a digital business through machine learning and big data technologies in every department," he said.