,Thailand

Kasikorn expects AUM to hit Bt1-T

Kasikorn Asset Management forecasts assets under management (AUM) to touch Bt1 trillion this year.

According to its newly appointed executive chairman, Chongrak Rattanapian, this is based on expectation of the Stock Exchange of Thailand reaching 1,550-1,600 points.

"This year, the company's AUM is expected to rise 19 percent, close to the industry average, driven by the existing customer base, its close connection with its parent Kasikornbank, brand strength and investors' confidence. With that expectation, the company will be the first [in Thailand] to have Bt1-trillion AUM," Chongrak said.

He added that his appointment came as a normal transition, given his experience in the asset-management industry.

He said AUM last year grew by 15 percent to Bt846 billion, maintaining the company's status as the industry champion. It has about 800,000 customers.

The company's mutual funds expanded by 20 per cent while the provident funds grew 15 percent.

This year's business strategy continues to focus on offering various products to meet demand of three major customer groups.

The first group consists of those who maintain the principal. The second comprises those who invest for asset growth and focus on risk mitigation abroad. The third is those who invest for retirement.

Currently, the company has nearly 500,000 customers who are members of provident funds or investors in retirement mutual funds; the latter group has total assets of about Bt63 billion.

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