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FIF likely to draw interest from investor in 2nd half of this year: KRC
BANGKOK, July 3 (TNA) - A foreign investment fund (FIF) is expected to be of interest to local investors and expand in the second half of this year since investment sentiment in the local capital market remains uncertain, according to KASIKORN Research Center.
The leading think tank said FIF had currently become another investment choice that gains more recognition amidst the uncertain investment atmosphere. The latest data collected by the Investment Management Companies' Association as of June 19, 2006 shows there are 36 FIFs with the total asset value of 78 billion baht compared with 5 funds with 2.19 billion baht in 2002. Currently, the net asset value of FIFs represents around 9.1 per cent of 855 billion baht of mutual funds, up 1.1 per cent from that of 2002. By Rajesh Kumar, Section Business Posted on Sun Jul 02, 2006 at 10:09:59 PM EST
KRC said the FIF's investment policy focuses on investment in unit trusts of 16 foreign mutual funds with the net asset value of 12.8 billion baht, 12 fixed-income funds with NAV of 55 billion baht,7 mixed mutual funds with NAV of 9.2 billion baht , and one equity fund with NAV of 892 million baht, respectively.
More local investors had paid attention to investing in FIF because it is another investment option available and it could reduce the investment risk. KRC viewed the overseas investment serves as a good opportunity for asset management companies to adjust themselves in preparation for stiff competition on the eve of the financial liberalization in the future. It would give the companies a chance to build up their strength and differentiate themselves from other firms. However, KRC conceded FIF remained not very popular because it had experienced more risk factors and constraints than another kinds of mutual funds focus on local investment. Even so, KRC believed FIF would continue to expand in the remaining period of this year now that the Bank of Thailand had approved an increase in total investment by the funds by another 1.3 billion baht on a condition that a half of the investment be invested locally. (TNA) - E005
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