Bangkok--12 Nov--Master Mind Communication
ING Funds Thailand successfully launched the ING Thai Trigger 10% (7) with a take-up of over USD 74m in subscriptions — a record high in the Thai mutual fund industry for a target redemption equity fund this year. The success was made possible with the assistance and cooperation of our major distributor, TMB Bank and the successful performances of the previous two Trigger funds ING Thai Trigger 10% Fund (5) and ING Thai Trigger 10% Fund (6), which had reached its target redemption of 10% within 3 month and 19 days, well before its intended 1 year expected timeframe.
“The success of the launch of ING Thai Trigger 10% (7) can also be attributed to improved investor confidence in the Thai economy and growth in equity markets in 2013, Mr. Jumpon Saimala, Chief Executive Officer of ING Fund (Thailand) said. He also added that the market timing of the launch of the fund was appropriate since there was a short term correction in Thai equity markets, and this presented an opportunity for investors to invest in listed company securities that has good fundamentals with a reasonable price.
Mr. Jumpon also believed that Thai economy growth will be sustained until 2013 due to new investments in government infrastructure projects in 2013 and increased domestic consumption. “There is a reasonable chance that the Thai SET Index target in 2013 could reach 1420-1450 or 10% to 12% upside from current index levels as a result of increased domestic investment and consumption, he added. This should enable the new fund to reach its 10% target level within a year.