Bangkok--2 Apr--Aberdeen
Siam Commercial Bank has joined with globally-recognized investment management expert, Aberdeen Asset Management, to offer a variety of attractive investment products. For the first time, an open architecture investment platform has been adopted to cater to the needs of clients in the bank's high net worth segment.
SCB Senior Executive Vice President, Mr. Yol Phokasub said that high net worth individuals are SCB Private Banking clients with assets worth over 50 million baht with the bank. These clients pay great attention to asset allocation management through various investment channels to enhance their wealth.
Realizing their needs, SCB has adopted an open architecture investment platform for the first time to serve various requirements of high net worth clients and maximize their benefits, providing clients with a chance to invest in funds with different overseas investment strategies. Emphasis will be placed on furnishing unbiased advice to clients, who need to distribute investments in assets of various types to ensure they receive maximum returns.
To this end, he said, SCB has signed a memorandum of understanding (MOU) with Aberdeen Asset Management, which has expertise in the management of investment in stocks locally and overseas, to cooperate in introducing investment products to the bank's high net worth clients.
“This cooperation is just the start of enhancing a variety of investment products to meet client needs. It also underlines SCB's role as a trusted partner. In the future, we plan to forge cooperation with other asset management companies to provide our clients with more alternative investment channels,” said Mr. Yol.
Aberdeen Country Head – Thailand, Mr. Korawut Leenabanchong said: “The company is very glad to have the chance to work with SCB. The consolidation of Aberdeen's professionalism in fund management with quality clients and SCB's strong branch network makes us confident in presenting selected investment products that cater to the needs of the bank's high net worth clients to help enhance their wealth.”
SCB and Aberdeen will initially introduce five open-ended funds:
Aberdeen World Opportunities Fund (FIF), which will mainly invest in units of the Aberdeen Global – World Equity Fund (Master Fund)
Aberdeen European Growth Fund (FIF), which will mainly invest in units of the Aberdeen Global – European Equity Fund (Master Fund)
Aberdeen China Gateway Fund (FIF), which will mainly invest in units of the Aberdeen Global – Chinese Equity Fund (Master Fund)
Aberdeen Japan Opportunities Fund (FIF), which will mainly invest in units of the Aberdeen Global – Japanese Equity Fund (Master Fund)
Aberdeen Small Cap Fund, which will invest in small-medium cap Thai equities with high growth potential, profitability, and continued sufficient cash flow. The Fund has won the Morningstar Fund Awards Thailand for three consecutive years.
The five open-ended funds will be offered for subscription through the Private Banking investment adviser, SCB Headquarters, Ratchayothin from April 1, 2015 onwards.