Bangkok--Oct 5--Bangkok Bank
Bualuang Thanarat 10/49 is a highly secure mutual Fund received strong interest from investors and investment units were sold out before the end of the Initial Public Offering (IPO).
Bualuang Thanarat 10/49 is a highly secure mutual fund with at least 99% of its assets in debt instruments which are issued or guaranteed by the Government, The fund is managed by BBL Asset Management (BBLAM), which has received SET Awards in two consecutive years for its outstanding performance in mutual fund management. The fund was offered to investors in an IPO between September 26 and October 4 through Bangkok Bank’s branches nationwide.
Bangkok Bank Vice President Suyanee Puripanyavanich said the quick sale of investment units in Bauluang Thanarat 10/49 indicated that there’s strong demand from investors for mutual funds with a high level of security and good income streams compared to bank deposits. The fund size of Bauluang Thanarat 10/49, which is registered with the Securities and Exchange Commission (SEC), is Bath 9.2 billion.
Bauluang Thanarat 10/49 is a low-risk, fixed income, open-ended mutual fund with a one-year lifespan. Investors will receive their investment back through automatic redemption of the investment units at six-monthly intervals, which is expected to be at least 2.75 percent of the initial investment per annum. Individual investors are also exempted from capital gains tax.
Ms. Suyanee said Bangkok Bank’s extensive branch network helped contribute to the quick sale of unis in the fund. “Bangkok Bank’s large nationwide branch network makes it easy for investors to buy units any where in the country,” she said. End.