Bangkok--Aug 2--Branded The Agency
Aberdeen Asset Management Co., Ltd will shortly launch the open-ended Aberdeen Asia Pacific Equity Fund, the first foreign investment fund (FIF) in Thailand investing in regional stocks, said Deputy CEO Robert Penaloza.
“The fund will invest 100% into investment units of the US$127m Aberdeen Pacific Equity Fund, an award-winning fund domiciled in Singapore that has an average of 12.8% return since launched in 1997,” he noted.
The Thai fund, which has an allotted size up to $10 million, or 420 million baht, will sell investment units at 10 baht each during its IPO period from August 10 to 31, 2005. The minimum investment is 5,000 baht. Subscriptions will be daily, starting within 15 days after IPO period.
Penaloza said although it is the first time for Aberdeen (Thailand) to invest in foreign equities, he is confident that the fund would appeal to Thai investors who keen to diversify.
“This is a great opportunity. The underlying fund invests in 12 markets across the region, providing excellent exposure to the Asian growth story. The focus is long term, on strong company fundamentals and balance sheets. We don’t chase stocks,” he added.
Management of the underlying fund is undertaken by Aberdeen’s regional office in Singapore, which has one of the most experienced equity teams in the region with almost US$11billion invested. Its clients include some of the world’s largest pension funds, government bodies and central banks.
“Thai investors will be getting access to the same expertise as foreign investors,” said Penaloza. “We run portfolios in the same way without regard to clients.”
Aberdeen believes there is plenty of growth left in the region, with China providing much of the export demand — although domestic consumption is on the increase too. Valuations are reasonable, while quality earnings should provide the potential for further rises in stock markets.
The new fund is suitable for investors looking for medium to long-term returns on investment, with high risk tolerance. Interested parties can call Aberdeen’s customer service line on 0-2636-8248 press 7.
Editor’s Note:
The Aberdeen group manages US$48.02 billion assets worldwide and is listed on the London and Singapore stock exchanges. The group has 78 fund managers with 26 offices worldwide.
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