Bangkok--21 Sep--Aberdeen
Aberdeen launched Provident Fund, opportunities for members to invest in Aberdeen Mutual Funds which are proven over the long term and suitable for retirement needs.
With experience in global asset management and presence over 10 years in Thailand, we expand the provident fund business by introducing Pooled fund and Single fund. With the pooled fund, the provident fund members can choose investment plans that suit their own risk profile (Employee’s Choice) to invest in Fixed Income, Thai Equity, and Foreign Equity fund for their retirement needs.
Ms.SujareeJunsawang, Director and Acting Country Head said, “Aberdeen has been operating as an asset management company in Thailand since 2002 with great acceptance from investors on investment philosophy and process having been proven over the long term with outstanding performance. The company has stepped up as one of the leaders in local equity funds and foreign investment funds which have been managed by Aberdeen’s investment team. As of 31st July, 2012, Aberdeen Group manages to 8.8 trillion baht in assets where over 20 billion of which is managed by Aberdeen, Thailand. Widely trusted by investors throughout the past 10 years, we expand the provident fund business this year by introducing Pooled fund which allows members to choose investment plans for their asset allocation. The Pooled Fund will then feed the investment into Aberdeen's own mutual funds that are already well known to investors from lower risk funds i.e. Aberdeen Cash Creation Fund which invests in money market and Aberdeen Income Creation which invests in fixed incomes to higher risk funds, two long-time flagship equity funds — Aberdeen Growth Fund which invests in Thai equities and Aberdeen Asia-Pacific Equity Fund which invests in foreign equities.”
Overall, the provident fund industry in Thailand is continuously growing. At the end of 2011, the net asset value of provident funds in Thailand totalled 615,259 million baht, 7.3% increase from prior year, and as of 30th June, 2012, or the end of 2Q2012, net asset value totalled 656,240 million baht, 6.7% increase year-on-year. Along with this, there are opportunities for members to choose their investment plan, Employee’s Choice. Hence, it’s just the right time that we expand to provident fund business this year. According to the whole industry in Thailand, asset allocation of provident fund goes to fixed incomes about 70% and goes to equities only about 10%, while the rest favours investing in bills of exchange and promissory notes. It can be indicated that saving for retirement in Thailand is still in capital protection and short-term investments, rather than longer-term investments to get higher returns to catch up with the future increasing cost of living. While Thailand is approaching the state of ageing population, where people tend to live longer in typical single family, hence, there will always be the need for accumulating savings to cover the living costs for 15-20 years after retirement. So, Employee’s Choice is a good solution to allowing members to choose investment plans that suit their own risk profile.
Apart from pooled fund, Aberdeen also services single fund management for fund size of over 500 million baht. With a superior client services and work systems of provident fund services, we believe we are able to provide superior on-going services as well as mutual fund services.
For more info, please contact
ChananthimaPinngoen Tel. 0-2352-3382, 0-2352-3388
Head of Marketing
Sakkapol Tungsongpaiboolya Tel. 0-2352-3387, 0-2352-3388
Marketing Communication Executive
For additional fund information, investor may request the prospectus from Aberdeen, Distributors or download from website. Investments contain risks. Investor should study prospectus, investment policy, and risk factors before making a decision to invest.