BTAM to launch its first property fund

Managing director Anusorn Buranakanonda said on Tuesday a fivestar hotel in Bangkok would be the underlying asset. He dismissed concerns over whether the cen¬tral bank's withholding tax would scare foreign investors away from the Bt3.2billion fund.

"It will be a freehold proper¬ty fund. The fund will be launched in the next couple of weeks and we think the capitalcontrol measure will not affect the fund raising," said Anusorn,

The fund is expected to gen¬erate a return of around 6 per cent. Later this year, BTAM will also launch its second property fund, in which the underlying asset is a warehouse and the fund size is Bt1 billion.

Besides routine fixedincome funds, the company also plans to launch its third foreign investment fund for this year. The return of this capitalpro¬tected fund will be based on the movement of a foreigncurren¬cy basket.

- The Nation

Piyarat Setthasiriphaiboon