Bangkok--23 Sep--mt multimedia
CIMB-Principal Asset Management launches 'Global Silver Age' fund to capitalize on a future trend, ageing population which focuses on growing ageing society through consumer prism. CIMB-Principal has announced an appointment of new Chief Investment Officer (CIO) 'Win Phromphaet' as part of investment team.
CIMB-Principal Asset Management floats thematic 'Global Silver Age', CIMB-Principal Global Silver Age Fund. This fund will invest in sectors such pharmaceuticals, healthcare, security and automobiles, which the firm has identified as beneficiaries of the trend as population is a persistence trend. In addition, more and more sectors will be driven by the spending of seniors. Plus, an announcement on the appointment of Win Phromphaet as Chief Investment Officer (CIO).
'Ageing is a worldwide phenomenon. The world's population aged 60 above is projected to increase form 9.2% in 1990 to 11.7% in 2013 and they will growth to 21.1% in 2050. Ageing population in developed countries are around 32% of worldwide population. Considering countries with numbers of ageing population, healthy and wealthy ageing, the countries with High Net Worth consumers with the fastest growing expenditure are USA, Europe and Japan' Jumpon Saimala, Chief Executive Officer of CIMB-Principal Asset Management, said.
'Now there is another side of the coin to the ageing population: it offers many industries an opportunity to target a whole new market. The new consumption and lifestyle pattern of them emerges the pattern is shifted from saving money for their descendants or medical treatment expense to spending for goods and services to support their needs and improve quality of life. Companies are preparing for the new wave of older consumers. Property developers, carmakers, technology companies, financial services firms and the pharmaceutical industry are all tailoring their offerings accordingly Today, the population of those aged 56-59 spend more on health, and beauty cares. People 60-69 years old preferred to spend money for themselves such as leisure recreates activities, 70 years old above required personal care services which are suitable for their lifestyle. They start to embrace new technologies (e.g. health monitoring, smart homes, driverless vehicles, and care robots). 'We found that investing in Global Silver ageing Society is a new range of financial opportunities. Silver age is high net worth consumers with the fastest growing expenditure rate among the population through the consumer prism. The ageing population uses these products and service to lower the costs of ageing and improve the lives of older citizens whilst simultaneously helping to boost the economy as well.'
Jumpon Saimala said 'CIMB-Principal launch new fund namely 'CIMB-PRINCIPAL Global Silver Age Fund (CIMB-Principal GSA)' with registered fund size 2,000 million THB. The IPO date will be during 28th September to 2nd October 2015. Moreover, CIMB-Principal has announced an appointment of new CIO 'Win Phromphaet' as part of investment team. Prior to join CIMB-Principal Asset Management, Win has served as Head of Investment at Social Security Office.'
Win Phromphaet add 'Silver Age theme is ability to capture the long-term investment opportunities which are mixed Demographic Megatrend of Baby Boomers. The baby boomers have a significant impact on the economy because they are extremely important sector biases in order to capitalize on every aspect of the ageing.'
The investment policy of CIMB-Principal Global Silver Age Fund provides that Global Silver Age theme is beyond Healthcare where the fund focus on sector which benefits form high net worth aging increasing consumption e.g. Leisure and Lifestyle, Traveling, Gardening, Personal Grooming & Care, Asset Gathering, Automobile, Retirement Institutions, securities, Healthcare Equipment and Pharmaceuticals. Also, the YTD performance of Global Silver Age Fund is around 12.96% and 3-month performance is around 5.69%.
In addition, CIMB-Principal Global Silver Age Fund will invest in Amundi HK- Global Ageing Planet Opportunities Fund (Master fund). The master fund was registered in Hong Kong and managed by Amundi Asset Management which is leading European Asset Manager, ranking top 10 players in asset management. Amundi Asset Management is a subsidiary jointly created by CREDIT AGRICOLE and SOCIETE CENERALE. It is valuable expertise in managing ageing-oriented investment strategy; CPR Asset Management is the investment adviser for Amundi HK- Global Ageing Planet Opportunities Fund. Total asset under successful 'Silver Age Strategy' is more than USD 1,333 million (THB 47,450 million) (As of July 2015). The companies with ageing related business are such as ALLERGAN, a global pharmaceutical company focus on developing pharmaceuticals and biologic products, C.R. Bard, a leading multinational developer, manufacturer, and life-enhancing medical technologies in the fields of vascular, as well as ING (Financial), a Dutch multinational banking and Valeant Pharmaceuticals, a publicly traded pharmaceutical company based in Montreal, Canada.
Overall, Win Phromphaet summarizes that 'CIMB-Principal Global Silver Age Fund creates many opportunities as there are many dimensions to ageing, from care providing to the leisure sector. In our eyes, ageing is the emerging economy'
For more information, please contact all CIMB Bank's branches and distributors or our Client Service Tel. (662) 686 9595 www.cimb-principal.com