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KAssets looks to hit Bt1-tn mark next year

Kasikorn Asset Management aims to be the first to reach Bt1 trillion in assets under management by next year.

Chongrak Rattanapian, executive chairman of KAsset, told a press briefing yesterday on the company's 3013 performance that the company can maintain its leadership in the fund business by managing Bt930 billion for mutual, private and provident funds.

It is also tops in foreign funds.

KAsset is confident in the fund industry, as investors are becoming more aware of funds and the global market is showing signs of recovery.

The company has been prompted by these positive factors to provide interesting instruments to deal with investors' requirements.

This year, the company introduced three foreign investment funds, which received overwhelming feedback from investors. KAsset has become the leader in the FIF market with AUM of Bt10.20 billion or a 36-per-cent share.

"We are confident in the growing trend of FIFs in 2014 thanks to the encouraging signs of global market recovery especially in the US and Japan from their quantitative easing policy.

"However, we will continue to closely monitor the timing of QE tapering. If QE is gradually tapered to pave the way for the stability of the US economy and Japan still keeps its policy to stimulate its economy, the global and regional markets will benefit from both markets and they will also help offset the slowdown of the Chinese economy," he said.

"Domestic investment is still interesting even though it will likely be more volatile than foreign investment. KAsset estimates the economy can expand 4-5 per cent, up from 2.6-3 per cent this year. But the key factor for economic growth is political unrest, which might affect the progress of the mega project investment," he said.

In the stock market, companies that rely on domestic consumption are interesting for investment. Those sectors are exports, commodities and property. KAsset predicts the stock index at 1,520 points next year.

Foreign investment, property funds and infrastructure funds are proper choices for those looking for long-term investment.

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