Thai company Kasikorn Asset Management (K-Asset) is targeting 2007 for launch of its first three property funds. K-Asset's plan is to have their portfolios containing every type of real estate product from offices, apartments, hotels and resorts, to retail space. The managing director of the company, Wiwan Tharahirunchote, said that all these types of properties could generate a satisfactory return to investors in the current market. She was quoted as saying "The return is somewhere between the return from fixed-income and securities investments. Property investments are good for long-term investment and they're good in an inflation situation like this."
Kasikorn Asset Management is Thailand's largest asset management company and currently manages an estimated US$324 million in retirement mutual funds and long term equity funds. During November, K-Asset also launched an electronic investment product which allows investors to buy and sell unit trusts over the internet, by telephone and at Kasikornbank ATM’s.
The asset management industry in Thailand continues to experience strong growth. As of year end 2005, assets under management totalled Bt771 billion or approximately US$21 billion. By month end October 2006, assets under management had increased to approximately Bt970 billion or US$27 billion.
International Fund Investment (IFI)
November 14, 2006
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