MFC Asset looks abroad for growth
MFC Asset Management aims to increase its overseas investment portfolio to about Bt100 billion following the liberalisation trend among foreign markets and more intense competition at home.
"If we don't expand our business to overseas, running the business in the Kingdom doesn't mean that we're going to be okay," said Pichit Akrathit, president of the company. The company manages four foreign investment funds (FIFs), which are approximately worth a combined Bt7.5 billion, or about 4 per cent of the Bt182.2 billion in assets under its management. "If possible, I'd like to see the overseas assets under our management take up about 25 per cent out of the total investment portfolio," said Pichit. The company yesterday launched its fifth FIF fund: the MFC Global Smart Fund. The open-ended fund will invest flexibly in global equities, fixed-income funds, commodities and the US dollar. The subscription period starts on Monday and lasts until March 28. The minimum investment is Bt10,000. The firm has a five-year-plan to become a leading player in the region by growing at least 18 per cent a year and by shooting for Bt400 billion in assets under its management by 2010. Piyarat SetthasiriphaiboonThe Nation
|
