Bangkok--Nov 26--TMBAM
Jotika Savanananda, Managing Director of TMB Asset Management Company Limited (TMBAM) said the company plans to aggressively drive the Retirement Mutual Funds (RMF) business by launching Jumbo 25 Retirement Mutual Funds, which is being offered from now until December 1, 2004 with a minimum purchase of 2,000 baht. This new fund will be an added option for the investors from its existing 2 funds namely TMB Money Retirement Mutual Funds and TMB SET50 Retirement Mutual Funds. The company hopes to attract the interests of the customs who mostly prefer to invest in RMF during December for the tax benefit.
TMBAM launched Jumbo 25 RMF by the same reason as other long-term equity funds. During September this year, the company launched Jumbo 25 Fund which received an overwhelming response from the investors resulted in the Net Asset Value increased from 405 million baht on the inception date to more than double the size of 1 billion baht in November 2004. The company trusted that Jumbo 25 RMF will also be warmly received by the investors.
“Jumbo 25 RMF will invest 100% in stocks with dividend and high liquidity as an alternative for the investors who prefer to invest in dividend stocks with some risks as well as the entitlement of tax benefit”, said Jotika.
Jotika added that the RMF investors will be benefited from the tax deductibility of the retirement mutual fund according to each individual income bracket. They will receive the tax exemption from the investment for a maximum of 300,000 baht per year or 15% of annual salary income.
Although the stock market at the moment is somewhat unstable, however, the positive economic outlook and the favorable profitability of the listed companies in the Thai stock markets lead the company to believe that it’s a good opportunity for the fund to invest during the decreasing trend of stock price. On the other hand, the company has the existing base of 30000 customers and the opportunity to expand its new customer base with the sales support from TMB Bank and other representatives.
As of November 24, 2004, TMB Asset Management Company Limited has a total of 14 mutual funds and net asset worth 46,408 million baht under its management including TMB Money Fund with present Net Asset Value over 32,000 million baht, which is well-known among the investors.
For more information, please contact
Lakana Khwan-ngam , Sujira Wirojana
PR Consultant
Tel. 0 2953-8633, 0 2954-2863,01-822-2363,01-629-1821 End.