SCB Asset Management has targeted a 20-per-cent increase to Bt495 billion in its assets under management, to maintain its leadership in the mutual-fund industry.
Managing director Jotika Savanananda said the growth would come from the extensive network of parent company Siam Commercial Bank. Thus far, 92 per cent of the fund company's business has come from the bank's branches.
The company will also expand its client base, working with the bank to tap funds from high-net-worth clients, while the number of retail clients will be expanded from 400,000 now.
On the product side, low-risk funds will be the focus, along with long-term bond funds, while promotion for long-term equity funds and retirement mutual funds will continue.
Jotika also believes the Bank of Thailand will raise its policy rate late in the second quarter. Towards the end of the year, it could be raised 75 basis points from 1.25 per cent now.
"The central bank may decide to jack up the rate at its April 21 meeting if the political rally has wound down. But a prolonged protest could prompt it to make a decision at the next meeting," she said.
SCB Asset expects the Stock Exchange of Thailand (SET) Index to move between 680 and 800 points this year, while listed companies' earnings should grow as much as 15 per cent from last year.
Earning grew 44 per cent last year to Bt432 billion.
Jotika expects the SET Index to rise to 800 points late this year, thanks to continued foreign capital inflows.
However, it will likely be volatile throughout the year, due to political conflict and profit-taking.
