Bangkok--15 Jan--Master Mind Communication
- ING Funds (Thailand) launches new ING Thai Trigger 10% Fund (8) with a registered fund size of 4,000 million THB. The IPO subscription period for the fund will be from 14 to 22 January 2013
- ING Funds (Thailand) has a positive outlook towards Thai equities and believes that foreign inflows could drive up the SET Index to 1550 by year end.
Khun Jumpon Saimala CEO, ING Funds (Thailand) announced today that ING Funds (Thailand) is offering investors a new ING Thai Trigger 10% Fund (8) with a registered fund size of 4,000 million THB The IPO subscription period for the fund will be from 14 to 22 January 2013.
Khun Jumpon said that after the recent success of the previous fund, ING Thai Trigger 10% Fund (7), (registered size 2,482 million THB) that took only 1 month and 25 days for the fund to reach its target return, the timing is right to launch a new target fund as Thai economic fundamentals remain solid and earnings outlook growth for Thai listed companies are robust in 2013. He also added that the trigger fund returns will be mainly derived as a result of selecting the right stocks to invest in (stock selection) and fund the right timing and market window of opportunity to invest in (marketing timing)
Khun Jumpon further stated that, there is also a new feature built into the new trigger fund, (ING Thai Trigger 10% Fund (8)), there will be two auto redemption points in the fund feature. The first auto redemption point is when the NAV of the fund reaches 10.50 Baht/unit or more on any particular day, investors will receive 0.50 Baht/unit return within 5 working days, afterwards, the second redemption point is reached when the NAV of the fund reaches 11.00 Baht/unit on any particular day, at this trigger point investors will receive the remaining auto redemption units (comprised of the remaining returns and initial investment) and the fund will close down.
“The fund feature is improved and better than previous trigger funds with only 1 trigger point, as the first initial trigger point is lower and therefore this reduces the risk of investors during times of increased market volatility. Moreover, investors receive a certain portion of their profits first and could reinvest the returns in other assets classes” Jumpon, said
For the Thai equity market outlook in 2013, we believe that there is a good chance that the Thai equity market and SET Index could reach 1,550 ppts by year end 2013. Thai economic fundamentals remains strong and continues to improve, he said and the global economic outlook is better than 2012. The engine driving Thai economic growth which is expected to grow roughly 4.5 % to 5.5% in 2013 (according to NESDB and Bank of Thailand estimates) will come from increased domestic consumption, public and private investment as a result of new government infrastructure projects and a recovery in Thai exports, he said. This will support healthy growth in listed companies’ profitability in 2013, he added. Apart from Thai strong economic fundamentals, there is ample and increasing liquidity in global capital markets as a result of continued Quantitative Easing measures from the US and liquidity injection from the EU, he added. This will support continued foreign fund flows in Thai Capital markets in 2013.
Thai equity market valuations also remain attractive given the fact that earning growth in the Thai market in 2013 is estimated at 19.1% in 2013 with an average estimated forward Price to Book earnings of 10.5 times (source: UBS, 28th November 2012) Dividend yields of the Thai market also remain higher than expected, he added.
For investors who are interested in the new ING Thai Trigger 10% Fund (8), the IPO subscription period is from 14 to 22 January 2013. Further information on the fund can be obtained at all TMB Bank Public Company Limited branches nationwide or at the Sales and Distribution Department, ING Funds (Thailand) Tel: 02 688 7777 press 2 or www.ingfunds.co.th