TMB unit plans Bt1-bn fund
With the country's political uncertainty set to be resolved with new elections in October this year, TMB Asset Management has announced plans to launch a Bt1-billion equity fund mainly investing in infrastructure stocks.
Managing director Jotika Savananandha, said she is confident the stock market will rebound in the fourth quarter of this year once political uncertainty is resolved. As a result, the company plans to launch the fund in the third quarter, aiming to invest in stocks that will benefit from the government's mega-projects. According to Jotika, TMB Asset Management is in discussions with Standard & Poor's about the possibility of developing the securities index in the infrastructure sector. In October last year, MFC Asset Management planned to set up a Bt15-billion Thailand Infrastructure Fund targeted exclusively at Middle Eastern investors to help finance the government's mega infrastructure projects. However, due to the uncertainty over the projects after the botched April elections, the fund has yet to be launched. The Nation
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