Krungsri Asset Management (KSAM) aims for 6% growth in assets under management (AUM) in 2019, with a focus on fixed-income and global healthcare funds to offset external headwinds.
The targeted AUM growth will increase the value of the company's total AUM to 530 billion baht, said KSAM managing director Siriporn Sinacharoen.
Fixed-income funds still make up a majority of asset size, while the company will offer new products investing in global healthcare equities to generate sustainable income amid external uncertainties such as the Sino-US trade row, prolonged Brexit negotiations and the US Federal Reserve's interest rate decisions, Ms Siriporn said.
KSAM plans to diversify investment into multiple asset classes to counter global financial volatility. These categories include real estate investment trusts, property funds, infrastructure funds and derivatives.
At present, KSAM has 100 funds under management.
The company also hopes to increase its investor base from about 300,000 accounts through the mobile app, new-account openings via an online system and the new investment tool of robo-advisory for fund analysis, Ms Siriporn said.
KSAM's total AUM was 503 billion baht in 2018, up 8.5% year-on-year, with net inflows worth 26 billion baht. The company ranks fifth in terms of AUM value.
Average AUM growth among the top 10 asset management companies was 3.1% last year.
KSAM's private fund registered the highest growth in 2018 at 51.6% year-on-year to 112.82 billion baht. The company also had net investment in fixed-income securities of about 12 billion baht.
KSAM chief investment officer Supaporn Leenabanchong said the International Monetary Fund recently revised down the 2019 global economic growth forecast to 3.5% from 3.7%.
Thailand's GDP growth is projected at 3.8%, driven by tourism, private consumption and government spending.
The US-China trade dispute, declining global crude prices and rising global interest rates are negative factors for the investment outlook, Mrs Supaporn said.
KSAM forecasts the Stock Exchange of Thailand index to reach 1,720 points as a base-case scenario in 2019, with the banking, commerce and tourism segments identified as attractive for equity investment.
